May 28, 2020
JLL Capital Markets has completed the sale of 150 E. 45th St., also known as the Lord Memorial Building, in Midtown East for Children’s Aid. Habib American Bank acquired the 32,270-square-foot mixed-use property for $28.25 million, or approximately $875 per square foot.
“It is a great shot in the arm for the local investment sales market to see this kind of confidence expressed by a prominent foreign bank under current market conditions,” said JLL’s Bob Knakal, who led the sales effort. “150 E. 45th St. offered an excellent opportunity for Habib American Bank to purchase a boutique office property with potential to be a headquarters building for them.”
The JLL team also included Jonathan Hageman, Clint Olsen, Ellen Herman, George D’Ambrosio and Albert Mamiye. Financial advisory services were provided by JLL’s Max Herzog. The buyer was represented by Jonata Dayan and Brett Weiss with HSP Real Estate Group.
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