ZG Capital Partners acquires 2417 Third Avenue

ZG Capital Partners has entered a contract to acquire 2417 Third Avenue (AKA Bruckner Building) in Mott Haven from Savanna and Hornig Capital Partners for $65 million, according to TRD. The eight-story office building spans 176,000 SF, and overlooks the Harlem River. 

• Tenants include… Catering company Great Performances leases 41,000 SF of office space. Asking rent on that deal agreed upon in January was around $27 per SF. 

• Flashback: Savanna and Hornig paid $30.6 million for the property in 2015. The partners subsequently invested $12 million in capital improvements to the waterfront building.