From 1969, until June 30, 1996, Investment Properties Associates
was the lessee of a large office building in Newark, New Jersey pursuant to a lease which required Investment Properties to pay all real estate taxes as part of the rent.
The value of the purchase was approximately $90 million from a partnership which include Irving Schneider's Investment Properties Associates
, as well as two other families.
Investment Properties Associates
(IPA), the Helmsley investment partnership, has completed its sale of 1440 Broadway for $152 million, according to Bob Hecht, CFO of Helmsley Spear.
The Investment Properties Associates
(IPA) portfolio is not a part of the group under Eastdil's purview, as Helmsley and Irving Schneider have already agreed to a $255 million transaction to sell these 16 properties, which include 1329 Broadway and 1440 Broadway, to Mickey Rabina, say other sources.
Topelsohn on behalf of owner Investment Properties Associates