Loeb & Loeb LLP represented Brookfield Office Properties, as landlord, in a lease to Time Inc. for 700,000 square feet of space at 225 Liberty Street, which will become the magazine company's new headquarters in lower Manhattan next year. The term of the new lease is 18 years.
Loeb & Loeb partner and Real Estate Department Chair Raymond A. Sanseverino and associate Joseph De Vesta in New York handled the transaction.
Click here to see Brookfield Office Properties’ press release for more information about the deal.
In another recently announced deal, Loeb & Loeb is representing BNY Mellon in the sale of its headquarters located at One Wall Street in lower Manhattan for $585 million to a joint venture led by Macklowe Properties, ending a 25-year history in that location. The sale is expected to be completed in the third quarter of 2014.
Loeb & Loeb partner Kenneth W. Sold in New York is handling the matter, along with partner Richard A. Nardi.
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