Toronto-based Oxford Properties Group has an agreement to purchase 450 Park Ave. for $575 million. Somerset Partners and the Tabor Family Trust is the seller of the 33-story, 334,404 square-foot office building located in the Midtown East neighborhood, at Park Avenue and 57th Street. The deal is expected to close in a couple of months.
The property “was sought after by many investors from around the globe— Oxford was nimble and flexible and provided a number of quantitative and qualitative options,” said Douglas Harmon, senior managing director at Eastdil Secured, who assisted Somerset in the sale.
