Duval & Stachenfeld represented New York Life Insurance Company and its affiliate, New York Life Insurance and Annuity Corp., in the acquisition of the fee interest at 1372 Broadway, New York, New York.
According to a release, Starwood Capital separately acquired the ground lease interest in the fully leased, approximately 572,000 square foot building from BLDG Management, who purchased the building in 2008.
Currently, the 21-story property is occupied by a mix of fashion and financial services tenants, including Ross Stores, Inc., Walmart, Ann Taylor and LF USA. The ground-floor tenants include retailers such as GNC, Starbucks and New York Health Club.
The Duval & Stachenfeld team was led by real estate partners Samuel Lee, Joseph Galvano, Terri Adler and Todd Eisner with assistance from real estate associates Caroline Kim and Sara Kolb.
Duval & Stachenfeld is a real estate practice in the U.S.
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