Meadow Partners, GreenBarn Investment Group and RXR have made a $36-million preferred equity investment in 1166 Ave. of the Americas in Midtown Manhattan. Owned by an affiliate of Edward J. Minskoff Equities (EJME), 1166 Ave. of the Americas is a 561,000-square-foot Class A office condominium located along the Bryant Park corridor.
EJME has achieved considerable success leasing to tenants such as FTI Consulting, William Blair, Janney Montgomery Scott, Continental Casualty Insurance, and Axis Insurance. With recent leases to the FDIC and Epiq Systems, 1166 Ave. of the Americas is 98% leased.
“As demand for high-quality office space in Midtown remains strong, and leasing activity in the area outperforms broader Manhattan averages, we believe 1166 Ave. of the Americas presents an attractive opportunity for Meadow to work with our longstanding borrower relationships to the benefit of our investors,” said Jeffrey Kaplan, managing partner of Meadow.
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