ING CLARION, MACKLOWE PURCHASE MANHATTAN OFFICE BUILDING FOR $45.2M

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NEW YORK CITY — A joint venture between ING Clarion Partners and William Macklowe Co. has purchased a Manhattan office building for $45.2 million. The property is a six-story, 90,000-square-foot office building located at 636 Avenue of the Americas. The building was constructed circa 1900. It features 20,000 square feet of ground-floor retail space that is occupied by Sports Authority as well as developable air rights that would allow for the creation of a penthouse atop the existing roof. Darcy Stacom, Bill Shanahan, Paul Leibowitz and Robert Garrish of CB Richard Ellis represented the seller, APF Properties. The acquisition is Macklowe’s first following the formation of the company five months ago.

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