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Capstone, AmTrust buying Midtown East office for one-third of 2019 price
MHNACapstone, AmTrust buying Midtown East office for one-third of 2019 price
Sep 11, 2024
By Rich Bockmann
Joshua Zamir’s Capstone Equities and AmTrust RE are buying a Midtown East office building for a third of its $180 million price from five years ago, The Real Deal has learned. Capstone and AmTrust are in contract on Savanna’s 360 Lexington Avenue [40th Street] for $65 million…The property now is 60 percent leased, and with its $110 million mortgage due…The property, which sits a short walk from Grand Central Terminal, had been pitched as a potential office-to-residential conversion, but the plan now is to keep it as an office building.
