$450 Million Joint Venture to Acquire Fee Interest in the "Lipstick Building"
Affiliates of Ceruzzi Holdings
Represent affiliates of Ceruzzi Holdings and Shanghai Municipal Investment in a joint venture to acquire fee interest in 885 Third Avenue (the “Lipstick Building”). The transaction was a $450 million +- complex debt and equity structure and involved advice relating to unique ground lease and fee issues as well as multi-tier entity ownership structure.