East Midtown MXD Ground Lease Sold

NEW YORK CITY—Dalan Management and RWN Real Estate Partners have purchased the 99-year ground lease for the Indigo—located at 230 E. 44th St.—for $47 million. The seller is a partnership of Atlantic Realty Group, Moezinia Bros. Capital and 230 MD Member.

M&T Bank provided a $36.2 million acquisition and renovation loan—brought in by HKS Capital Partners—and Daniel Rahmani of Venture Capital Properties brokered the deal. The 14-story, 135,315 square-foot, mixed-use building features 164 residential apartments, a 25,000 square foot parking garage and 3,700 square feet of retail space that’s fully occupied by a restaurant and a nail salon.