NEWSWEEK BUILDING SOLD FOR $140 MILLION
ABSTRACT:
The Newsweek building at Broadway and 58th Street has been sold for $140 million.
The new owner is David Werner, a Brooklyn-based real estate mogul, who got financial assistance from Goldman Sachs Group.
Werner, who’s been building up his cache of Midtown properties, bought the Newsweek building from Midtown Realty Co., a private company.
Last year, Werner bought 1185 Avenue of the Americas, near Rockefeller Center, for $195 million.
The newly-purchased building, at 1775 Broadway, got its name in 1994 when Newsweek magazine moved in. Previously, it ad been a New York headquarters for General Motors, though it was most famous for attracting hordes of screaming girls when Frank Sinatra’s press agent, George Evans, kept offices there. …
