One of New York City’s most recognizable buildings has been sold by Chabad magnate Levi Leviev’s Africa Israel Investments for $165 million.
Following the sale, the company announced its $86.3 million take from the transaction would come after payment of over $68 million worth of debt on the building, and fees associated with the deal.
Africa Israel Investments bought the building for $202 million, in 2007. Following global market crashes at the end of the same year, the company became tied up in significant debt.
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