CommonWealth Partners pays $1.03B to Cove, Baupost for Hudson Yards office

CommonWealth Partners through the entity Fsp Hudson Commons, LLC paid $1.033 billion to Cove Property Group and Baupost Group through the entity Cbp 441 Ninth Avenue Owner, LLC for the office building at 441 Ninth Avenue in Hudson Yards, Manhattan.
The deal closed on December 17, 2021 and was recorded on December 29, 2021.

The signatory for Cove Property Group and Baupost Group was Kevin Hoo. The signatory for CommonWealth Partners was Brett J. Munger.

The brokers were CBRE’s Darcy Stacom, Bill Shanahan, Doug Middleton and Alana Bassen. The signatory for CommonWealth was Brett Munger, company CEO. The owner entity was in care of Los Angeles-based Fifth Street Properties.  Cove bought the building in 2016 for $330 million then rehabilitated and enlarged it with a 17-story addition.

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