HGAR officials noted that its selection “is a testament to the impact of our advocacy, leadership and presence across the region.”
Dais pleaded guilty today in Rockland County Court to forgery and violation of the Home Equity Theft Protection Act (HETPA).
Mortgage rates declined further last week, with the 30-year fixed rate falling to its lowest level since last September to 6.34%.
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million.
NEW YORK—Norges Bank Investment Management announced on Sept. 2 it had agreed to acquire a 95% interest in 1177 Avenue of the Americas in New York City in a new joint venture with Beacon Capital Partners for approximately $543 million.
The agreement to purchase the 1,030,000-square-foot office building was signed on Aug. 28, with completion expected in the third quarter of 2025.
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million. Norges Bank Investment Management manages the Norwegian Government Pension Fund Global, often referred to as the Norwegian Oil Fund.
The seller of the property is a joint venture between California State Teachers’ Retirement System and Silverstein Properties.
A Beacon subsidiary will acquire a 5% interest in the property. Boston-based Beacon will perform the asset management for the property on behalf of the joint venture.
Earlier this year, insurance conglomerate H.W. Kaufman Group announced it would be moving its Manhattan offices to 1177 Avenue of the Americas.
H.W. Kaufman signed a 10-year lease for 11,012 square feet on part of the 21st floor of the 47-story tower and will relocate from its current offices one block away at 555 Fifth Ave., according to the Commercial Observer. The move is scheduled for the end of this year.
HGAR officials noted that its selection “is a testament to the impact of our advocacy, leadership and presence across the region.”
Dais pleaded guilty today in Rockland County Court to forgery and violation of the Home Equity Theft Protection Act (HETPA).
Mortgage rates declined further last week, with the 30-year fixed rate falling to its lowest level since last September to 6.34%.
In addition to a revitalized port, the plan passed on Sept. 22 will also create 6,000 new homes—including 2,400 permanently-affordable units—as well as 28 acres of public space.
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