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trophy building

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trophy building

A status symbol,landmark building with distinctive design features and the very best construction and finishes. It generally has widespread name recognition and is considered a prestigious address.Since 9/11,the allure of trophy buildings has waned among some tenants,who view the real estate as a mixture of trophy and target.



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He said Sorgente had originally planned to finance its of the building but, as lending markets landed in quagmire, decided to go ahead with all-cash transactions using its own Historic and Trophy Buildings Fund, a war chest for high profile acquisitions in the world's great cities.
Despite the overall decline in the value of trophy buildings like the GM Building and 666 Fifth Avenue, they could prove to be resilient investments, said Nat Rockett, a managing director with Jones Lang LaSalle's capital markets group.
The Qatari fund was a big backer of Boston Properties' purchase of New York's most promiment trophy building earlier this year for a record-setting sum of $2.
 
 
 
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