By Brooklyn Reader

April 15, 2014, 2:42 pm

 

470 Vanderbilt Avenue

470 Vanderbilt Avenue

The second-priciest office building transaction in Brooklyn’s history closed last month right here in Fort Greene.

The $194.5 million deal for the 650,000-square-foot building, located at 470 Vanderbilt Avenue between Atlantic Avenue and Fulton Street, not only was a 14-year ordeal, but also, for its new owners– American Landmark Property– one that almost did not happen.

The building’s closing was a roller coaster of transactions involving some of New York’s biggest real estate players, including RXR, GFI, the Carlyle Group, Paramount Group, the estate of Sol Goldman, Eastdil Secured, Carlton Group and Meridian Capital Group.

The building’s new owner plans to capitalize off of the commercial vitality of Barclays Center down the street and the Tech Triangle in DUMBO to lease to creative and tech businesses.

Click here to read the Real Deal’s blow-by-blow account of the mega-transaction, from inception to close.


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