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Alchemy-ABR Makes its First Buy

NEW YORK CITY—In conjunction with another firm, the newly formed partnership—just announced earlier this week—has picked up the leasehold interest in a Midtown East office building.

By Rayna Katz | Updated on September 18, 2015

NEW YORK CITY—The new partnership between Alchemy Properties and ABR Investment Partners has wasted no time getting to its first deal. The pair of investors—known as Alchemy-ABR—has acquired the leasehold interest in 211 E. 43rd St., in a joint venture with Clarion Partners. The buyers of the Midtown East office building, which features 211,000 square feet, declined to reveal the price of their purchase but they reportedly paid $99 million, according to the Real Deal.

The seller, Meadow Partners, was represented by a Fried Frank team led by real estate partners Janice Mac Avoy, Jonathan Mechanic and Ross Silver. It was unclear at press time who represented the buyers.

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