"Despite the trying times we're living in now, the successful completion of this deal is proof of Manhattan's office sector resilience, says Ted Koltis.
The property was originally built in 2000 as part of the Merrill Lynch corporate campus and consists of three office buildings totaling 380,417 square feet.
The majority of survey participants anticipate that the economy will need at least 12 months to 24 months to fully recover from the pandemic while 30% of participants project a two-year to five-year recovery.
With stores like Neiman Marcus, JC Penney and Pier 1 struggling, there could be excess retail warehouse space later this year, particularly in the Inland Empire.