Monday, August 23, 2010

510 Madison trades at $1,000 psf

BXP buys from Macklowe the WSJ reports. On the one hand, that's the richest price we've seen since this little journey into the fourth circle of our own little CRE inferno, but at the same time BXP speculates in the article that Macklowe probably lost all his equity and they're basically buying the debt.

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