June 24, 2004
Third time is apparently the charm for 135 W. 50th St..
Neither Douglas Durst nor Jerry Speyer could complete the deal, but now Murray Hill Properties has signed a contract and put down a hard deposit towards a lease for the building, also known as the Sports Illustrated building.
The Estate of Dr. Laszlo Tauber is selling the 100-year lease for $143 million. The land is owned by the Estate of Peter Sharpe and the Lehmon family. The price, sources said, comes to less than $200 a foot.
Murray Hill Properties, led by investment maven Norman Sturner, is partnering with Blackacre Capital and not Lehman Bros., as was reported elsewhere. Eastdil is handling the sale, but agents declined comment.
Interestingly, Lehman which is headquartered at 750 Seventh Ave., across the street is now seeking to rent 300,000 square feet in the Sports Illustrated building through Bob "Mr. Big" Alexander of CB Richard Ellis.
Copyright 2004 NYP Holdings, Inc.