- Category
- Announcements
- Date
- Nov. 05, 2009
- Title
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Kramer Levin Client Starwood Announces Sale of St. Regis New York’s Retail Space
Kramer Levin client Starwood Hotels & Resorts Worldwide, Inc. announced on November 5 that the Company has closed on the sale of 24,700 square feet of retail space at the St. Regis New York to GFC Fifth Avenue LLC, an investment group led by the Chera family’s Crown Acquisitions, Lloyd Goldman and the Feil Organization. The sales price of $117 million represents a 5% cap rate on anticipated 2009 NOI. Sale proceeds will go towards additional debt paydown.
Real Estate partner Jay A. Neveloff and associate Michael S. Warren handled the deal, with the assistance of counsel Stephen R. Senie and associate Reginald M. Barton.
Related People
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Jay A. Neveloff
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- Partner
- Chair, Real Estate
- New York
- vcard
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Stephen R. Senie
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- Counsel
- New York
- vcard
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