July
2010
Developed in 2006 by The Fallon Company, The Park Lane luxury apartment complex is now on the block! One Park Lane is home to 465 beautiful apartments, with a common roof deck that is a brilliant feature during the warm weather. Both MassMutual’s Cornerstone Real Estate & Fallon Co. have decided to sell it in a bid to tap an investment sales market. Insiders are reporting that this sale could lead to a feeding frenzy on institutional investors. The property was assessed at $91M, but has a $110M mortgage that matures in 2011. Theres no doubt in my mind that this will sell for a huge number. We will keep you updated….
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