NEW YORK – May 5, 2015 – Greenberg Traurig Real Estate Shareholders Richard J. Giusto, Danielle Gonzalez, and Michael T. Lynott represented longtime client Invesco Real Estate in its sale of the iconic 230 Park Avenue building in New York City to RxR Capital Holdings. The deal closed on Tuesday.
The 1.4 million square foot historic landmark was built in 1929 as the headquarters for the New York Central Railroad. Until recently, it was best known as the Helmsley Building for its ownership by Harry and Leona Helmsley. The building, which is currently home to tenants such as ING, HSH Nordbank and Simon Property Group, is known for its distinctive architectural features that make it one of the most photographed buildings in Manhattan.
The Greenberg Traurig team, based at the firm’s Miami office, also represented Invesco Real Estate, a business unit of Invesco Advisers, Inc., in 2011 in its $760 million acquisition of the building. That deal won the "Top Dealmaker of the Year - Office (Real Estate)" Award at the Daily Business Review's Top Dealmakers of the Year Awards.
“We are pleased to have represented our longtime client Invesco in both the acquisition and sale of the iconic Helmsley Building, significant transactions that are a testament to our legal team’s ability to support our clients in all aspects of their transactions and partner with them closely to strategically support their business objectives,” said Giusto, Co-Managing Shareholder of the firm’s Miami office, who has served as lead counsel for Invesco for 18 years.
Invesco’s partner in the transaction, Monday Properties, was represented by Julian Wise, a Partner with Schulte Roth & Zabel.
Greenberg Traurig shareholders Jerrold F. Goldberg, Robert J. Ivanhoe and William R. Siegel were also involved in the transaction. Ivanhoe is Chair of the 200+ lawyer Global Real Estate Practice and Co-Chair of the REIT group at Greenberg Traurig.
Invesco is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
The Greenberg Traurig Real Estate Practice spans 40 years of delivering multidisciplinary legal solutions for property investment, development and management, as well as real estate finance. The team draws upon the knowledge of more than 200 real estate lawyers, and the resources that the firm’s global organization has to offer. The team provides clients with integrated legal services for all phases of a project and most stages of business. Its client base comprises a broad range of property developers, lenders, investment managers, opportunity funds, Real Estate Investment Trusts, and private owners. The firm advises clients on a variety of matters involving diverse forms of commercial, recreational and residential real estate.