230 Park Avenue South
New York, NY

OPPORTUNITY | STRATEGY | RESULTS

OPPORTUNITY. A 400,000 square foot, 14 story office building in New York City’s Flatiron District, 230 Park Avenue South is leased on a long term basis to the advertising firm Young & Rubicam. In 1996, Rabina and partners acquired distressed debt obligations of the building’s developers. The borrowers’ only unencumbered asset was their ownership interest in the 230 Park Avenue South property. The opportunity for Rabina Properties was to convert the debt obligations it now held into ownership of the property.  Next

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