Kasowitz Represents MRP Realty and Deutsche Asset Management in $238 Million Park Avenue Transaction

Kasowitz Represents MRP Realty and Deutsche Asset Management in $238 Million Park Avenue Transaction

Kasowitz represented a joint venture between real estate developer MRP Realty and Deutsche Asset Management, a division of Deutsche Bank, in an approximately $238 million purchase of an office and retail property located at 405 Park Avenue in New York City from Donerail Corporation. The 17-story property is located in New York’s Plaza District with approximately 160,000 square feet of space. This transaction is one of New York City’s first major commercial investment sales of 2016.

Kasowitz Partner Douglas B. Heitner represented MRP Realty and Deutsche Asset Management.