FIRM NEWS
Duval & Stachenfeld Represents Sabey Data Center Properties and Local Partner Young Woo & Associates in Acquisition of 375 Pearl Street in Lower Manhattan
June 14, 2011
Press Release
Duval & Stachenfeld LLP represented Seattle-based developer Sabey Data Center Properties, the largest privately-owned multi-tenant data center owner and developer on the West Coast, in acquiring the principal condominium interest in 375 Pearl Street in lower Manhattan as well as representing Sabey’s local partner, Young Woo & Associates, which has an interest in the property and has over 30 years of experience developing creative, innovative, and life-style oriented projects that generate added-value throughout the United States and abroad.
The 32-story, one-million-square-foot tower was acquired for $120 million and is intended to be repositioned into a new, state-of-the-art multi-tenant commercial data center.
The Duval & Stachenfeld Team was led by Real Estate Group Chair Terri Adler and partner Todd Eisner with assistance from Real Estate Group associates Chris Barbaruolo and Marc Rosen.
Duval & Stachenfeld LLP has one of the most highly-regarded real estate practices in the U.S. Since the Firm's inception, the Real Estate Group has distinguished itself by creating a practice focused on complex, sophisticated transactional work. With close to 35 attorneys, the Real Estate Group has one of the largest groups in New York City and are veterans of over 2500 transactions in the firm’s almost 14-year history.