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Old Posted Feb 7, 2007, 12:38 PM
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NY Post

BUILDING'S REALLY WIRED
AP'S 33RD STREET HEADQUARTERS SOLD FOR $700M+






The Daily News Building (above) at 450 W. 33rd St. has been sold.



February 7, 2007 -- SCOTT Lawlor's Broad way Partners have swooped in and tied up 450 W. 33rd St. for north of $700 million.

The chunky former John Hancock Building is being almost entirely recapitalized by Joseph Chetrit and his investors through Douglas Harmon of Eastdil Secured.

A slender tower of about 800,000 feet can be added to the 1.7 million foot chunky, sloping structure that's home to both the Daily News and the Associated Press wire service.

Harmon confirmed to us the deal went to contract but would not discuss any of the details of the complicated transaction.

"They are evaluating how best to maximize the value of the assets," Harmon said of Lawlor's group.

As we revealed in last week's column, the building was on the market but it has become obvious that buyers have to move fast to grab that brass ring.
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