Chaim Miller has purchased Silver Suites Residences at Beekman Tower located at 3 Mitchell Place in Manhattan for $137.5 million from Silverstein Properties, Fisher Brothers and Capstone Equities, according to a report in The Real Deal. Miller led a group of investors.
The sellers acquired the tower for $82.15 million in 2012, giving them 65% profit in only 2 years.
Situated at the corner of First Avenue and 49th Street near the United Nations building, the art deco tower was built in 1929 and designed by John Mead Howells. It is 26 stories high and was declared a landmark building in 1998. It was originally known as the Panhellenic Tower.