News Column

Brack Capital Real Estate Investments Buys Property In Manhattan

July 14, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Brack Capital Real Estate Investments NV Monday said its US subsidiary has exchanged contracts to acquire a property in West Village in Manhatton, New York for USD105 million.

The Netherlands-based company engaged in real estate and investment sectors, said the vacant building located in the West Village in Manhattan, compromises of approximately 115,000 square foot gross internal area.

The company said it has already paid a deposit of USD10 million, which will be deducted from the USD105 million purchase price upon closing of the deal.

"Closing of the deal is scheduled to take place within 60 days however, the company has the right to extend the closing date for two periods of 30 days each, subject to an increase in the purchase price and the deposit amount for each extension," the company said.

Shares in the company were trading 2.9% higher Monday morning at 1.78 pence.

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Source: Alliance News

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