Offshore investor buys N.Y. Citibank portfolio

In a transaction valued at roughly $100 million, an unnamed Irish investment group purchased 47 Citibank branches in the New York City metro area and has agreed to lease the properties back to Citigroup.

The portfolio includes a 157,312-square-foot combination of bank branches and offices. The 47 properties range in size from 2,000 square feet to 8,000 square feet and are located in Manhattan, the Bronx, Brooklyn, Queens, Staten Island, Westchester, Suffolk and Nassau counties.

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