Ceruzzi Properties looks to sell ground under the Lipstick Building

One of the ripple effects of the economic crisis in Argentina — Latin America’s third-largest economy — is that investors are getting a crack at buying the land underneath Manhattan’s iconic Lipstick Building. The owner of the 34-story red granite tower, a partnership led by Argentina’s Inversiones y Representaciones Sociedad Anónima, let its option to buy the ground underneath the building at 885 Third Avenue expire earlier this year. Now the owner of the land, […]

source https://therealdeal.com/2019/09/10/ceruzzi-properties-looks-to-sell-ground-under-the-lipstick-building/