Adam Pincus | The Real Deal
A blow-by-blow account of one Brooklyn mega deal.
The second-priciest office building transaction in Brooklyn’s history closed last month.
The basic facts about how Chicago-based American Landmark Property partnered with RXR Realty to pay GFI Development and Starwood Capital $194.5 million for a long-term leasehold covering the 650,000-square-foot building at 470 Vanderbilt Avenue in Fort Greene have been widely reported. But the telling details — when the individual players first met, the meeting locations (including high-end restaurants like Le Marais), and the nail-biting, 11th-hour wire transfers — have been kept under wraps.
This month, The Real Deal mapped out the anatomy of the deal, providing a blow-by-blow account of how the mega-lease purchase came to fruition. The roller-coaster transaction, which nearly collapsed earlier this year, involved 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. Following are some of the key moments along the way.