October 13, 2011 04:30PM
By Katherine Clarke
From left: Darcy Stacom, vice chairman of CB Richard Ellis, 307 East 53rd Street and the flag of the Republic of Tanzania
The Republic of Tanzania has purchased the Timekeeper Building, a six-story office property at 307 East 53rd Street near the United Nations, for $24.5 million, according to public records filed with the city today.
The 40,000-square-foot, six-story building, between First and Second avenues, was put on the market by Philadelphia-based real estate investment firm Amerimar Enterprises in September 2010. Robert Garrish, Paul Gillen and Darcy Stacom of CB Richard Ellis were hired to market the property.
Amerimar purchased the property from a company named Mittman Associates for $15.45 million in 2005.
Office tenants at the building include Amerimar as well as Bombo Sports and Entertainment, wine distributor Frederick Wildman & Sons and the Caudalie Vinotherapy Spa's offices.
A representative for the Republic of Tanzania was not immediately available for comment, but a person who answered the phone at the Tanzanian embassy in Washington D.C. confirmed that the county's New York embassy may be moving from its home at 201 East 42nd Street.
A spokesperson for Amerimar did not return a call by press time. Garrish, Gillen and Stacom declined to comment on the closing.
This purchase marks Tanzania's second in the last few months. As previously reported, in August, the Mission for the United Republic of Tanzania based in New York, bought a Great Neck, Long Island center hall colonial house for $1.26 million. Orly Hollander of Laffey Fine Homes, who was the listing agent on the property, said at the time that the home is for a Tanzanian diplomat with his children.
TAGS:307 EAST 53RD STREETCB RICHARD ELLISAMERIMAR ENTERPRISES
Another One - Tanzanian mission buys Great Neck house for $1.26 million
Wednesday August 17, 2011 11:59 AM By Ann Smukler
Photo credit: Kevin P Coughlin
Orly Hollander of Laffey Fine Homes can now add the United Republic of Tanzania to her list of buyers. She was the listing agent on a Great Neck center hall Colonial that recently sold to the Tanzanian mission for $1.26 million, according to the Long Island Real Estate Report.
How different was the experience for Hollander? She needed the U.S. Department of State to OK it. “This is the first deal I ever did where I needed the government’s approval,” Hollander says. She adds the home is for the family of an attaché with four children.
The home has five bedrooms, four bathrooms and an open floor plan. The master bedroom has a bath with a Jacuzzi and shower. A two-car garage is attached. The deal closed at the end of June, according to public records.
The State Department statement indicated that requiring government approval is standard practice and in accordance with the Foreign Missions Act. Any foreign mission is required to obtain the U.S. Secretary of State’s approval before any acquisition, sale or disposition of real estate is completed.
The statement says there is usually no impact to a community from the presence of a diplomatic residence, and, yes, the State Department has turned down applications in the past.
By the way, the Tanzanian government will be coughing up $22,093.66 a year for property taxes (or almost 36 million Tanzanian shillings).
From left: Darcy Stacom, vice chairman of CB Richard Ellis, 307 East 53rd Street and the flag of the Republic of Tanzania
The Republic of Tanzania has purchased the Timekeeper Building, a six-story office property at 307 East 53rd Street near the United Nations, for $24.5 million, according to public records filed with the city today.
The 40,000-square-foot, six-story building, between First and Second avenues, was put on the market by Philadelphia-based real estate investment firm Amerimar Enterprises in September 2010. Robert Garrish, Paul Gillen and Darcy Stacom of CB Richard Ellis were hired to market the property.
Amerimar purchased the property from a company named Mittman Associates for $15.45 million in 2005.
Office tenants at the building include Amerimar as well as Bombo Sports and Entertainment, wine distributor Frederick Wildman & Sons and the Caudalie Vinotherapy Spa's offices.
A representative for the Republic of Tanzania was not immediately available for comment, but a person who answered the phone at the Tanzanian embassy in Washington D.C. confirmed that the county's New York embassy may be moving from its home at 201 East 42nd Street.
A spokesperson for Amerimar did not return a call by press time. Garrish, Gillen and Stacom declined to comment on the closing.
This purchase marks Tanzania's second in the last few months. As previously reported, in August, the Mission for the United Republic of Tanzania based in New York, bought a Great Neck, Long Island center hall colonial house for $1.26 million. Orly Hollander of Laffey Fine Homes, who was the listing agent on the property, said at the time that the home is for a Tanzanian diplomat with his children.
TAGS:307 EAST 53RD STREETCB RICHARD ELLISAMERIMAR ENTERPRISES
Another One - Tanzanian mission buys Great Neck house for $1.26 million
Wednesday August 17, 2011 11:59 AM By Ann Smukler
Photo credit: Kevin P Coughlin
Orly Hollander of Laffey Fine Homes can now add the United Republic of Tanzania to her list of buyers. She was the listing agent on a Great Neck center hall Colonial that recently sold to the Tanzanian mission for $1.26 million, according to the Long Island Real Estate Report.
How different was the experience for Hollander? She needed the U.S. Department of State to OK it. “This is the first deal I ever did where I needed the government’s approval,” Hollander says. She adds the home is for the family of an attaché with four children.
The home has five bedrooms, four bathrooms and an open floor plan. The master bedroom has a bath with a Jacuzzi and shower. A two-car garage is attached. The deal closed at the end of June, according to public records.
The State Department statement indicated that requiring government approval is standard practice and in accordance with the Foreign Missions Act. Any foreign mission is required to obtain the U.S. Secretary of State’s approval before any acquisition, sale or disposition of real estate is completed.
The statement says there is usually no impact to a community from the presence of a diplomatic residence, and, yes, the State Department has turned down applications in the past.
By the way, the Tanzanian government will be coughing up $22,093.66 a year for property taxes (or almost 36 million Tanzanian shillings).
