Foreign investor buys in Manhattan

Space leased by academic institution

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Commercial real estate services provider Newmark arranged the sale of a 73,500-square-foot building in Manhattan, N.Y. The value of the transaction was $31.2 million. Maxim Properties sold the four-story building at 227 West 61st St. to Cofinance Inc., a European investment firm. The NYC Board of Education is leasing the property for Beacon High School until 2010. Manhattan-based Newmark is an independent real estate services provider. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....