Pryor Cashman partners Ronald Kremnitzer and Samson Bechhofer represented the Rudd family in the sale of 118 East 59th Street for $49 million to Euro Properties, an investment firm with offices in Hong Kong, Beijing and Singapore. The property is a 5,025 s/f lot between Park and Lexington Avenues.
According to the offer memo involved in the sale, Euro plans to tear down the current structure to build a mixed-use tower with high-end retail on the ground level and condos on the upper floors.
Kremnitzer, who is co-chair of Pryor Cashman's Real Estate Group, has long represented Frederick Rudd in real estate transactions in Manhattan. Tags: