Mubasher: Wafra Real Estate (WRE) and Nightingale Properties, a New York-based commercial real estate firm, have signed a $907 million deal to purchase Coca Cola Building at 711 Fifth Ave in Manhattan region.
Wafra, which is owned by the Kuwaiti pension fund, the Public Institution for Social Security of Kuwait, is Nightingale’s partner in the transaction.
In 1983, the Coca-Cola company took over the 15-story office building as part of its acquisition of Columbia Pictures.
The 354,000 square-foot building, which traded at $907 million, priced the building at $2,562 per square foot.
