4 East 34th Street

17 months later, Caerus closes on ex-Zionist Organization HQ Investor’s $38M purchase was delayed by ex-retail tenants’ litigation

People say good things come to those who wait, but for a real estate closing, 17 months seems like a long time.

Leo Tsimmer’s Caerus Group finally closed Thursday on爱上海龙凤419桑拿

its $38.2 million purchase of the former Zionist Organization of America headquarters building, at 4 East 34th Street in Midtown, the Commercial Observer reported.

The investor went into contract on the five-story, 29,000-square-foot property – which holds an addi上海贵族宝贝论坛

tional 52,300 square feet of air rights – in December 2014. At the time, Caerus planned to build a 上海夜网论坛

condominium building on the site featuring a retail component at the base. Tsimmer told Commercial Observ爱上海

er only that he plans to reposition the building.

Caerus also bought additional air rights from properties surro上海千花网论坛

unding 4 East 34th Street, as The Real Deal previously reported. All told, the company paid around $70 million to $80 million for the building and the additional rights.

The deal’s closing was delayed by litigation brought against the Zionist Organization by a former retail tenant at the property, B. Boman Co, operator of women’s clothing retailer Bolton’s.

Earlier this year, Caerus picked up the adjacent Ditson Building at 10 East 34th Street from Brause Realty, paying $51.7 million in an all-cash deal. [CO] – Ariel Stulberg

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