Cushman & Wakefield’s Metropolitan Area Capital Markets Group (CMG) has orchestrated the sale of 10 Exchange Place.
The 748,005 s/f building is a 30-story trophy office tower and a skyline landmark on Jersey City’s Hudson River waterfront.
Andrew J. Merin, David W. Bernhaut, Gary Gabriel, Brian J. Whitmer and Kyle B. Schmidt represented the seller, a client of INVESCO, in the transaction.
The buyer was Manulife Real Estate, the global real estate arm of Canada-based Manulife Financial Corporation.

By Al Barbarino
Nearly $11 billion dollars went down the drain during the hey day of the mid-2000s real estate boom as prospecting developers delved into an easy flow of cash to finance projects that were based more on bright ideas than basic fundamentals.

As experts continued their investigation into the cause of a freak elevator accident that killed a Madison Avenue office worker last week, the city’s Buildings Department was reassuring a nervous workforce of its safety
According to DOB spokesman Anthony Sclafani, fatal elevator accidents are rare in New York — 2008 was the last time anyone was killed — and engineers and city officials continually work to improve elevator safety.

Last Wednesday morning, engineers from Transel Elevator Inc, a Manhattan-based elevator maintenance company, were performing electrical work on elevators at 285 Madison when advertising executive Suzanne Hart was killed after stepping into the elevator from the building’s lobby.