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Morgan Stanley Real Estate Investing and The Witkoff Group Partner to Acquire and Redevelop 1107 Broadway

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Morgan Stanley Real Estate Investing and The Witkoff Group Partner to Acquire and Redevelop 1107 Broadway Powered By Docstoc
					Morgan Stanley Real Estate Investing and The
Witkoff Group Partner to Acquire and Redevelop
1107 Broadway
September 28, 2011 02:03 PM Eastern Daylight Time 

NEW YORK--(EON: Enhanced Online News)--Morgan Stanley Real Estate Investing (MSREI) announced today
the acquisition of 1107 Broadway (the former Toy Building North), a 350,000 square foot office building located
along the west side of Madison Square Park in Manhattan, in partnership with The Witkoff Group. MSREI and The
Witkoff Group plan to convert the vacant building, which was acquired through a short sale process, into luxury
condominiums.

“1107 Broadway is a terrific property that we are thrilled to add to our portfolio,” said John Klopp, Co-Chief
Executive Officer and Co-Chief Investment Officer of MSREI. “We look forward to partnering on this project with
The Witkoff Group, a premier developer and operator with proven execution capabilities.” 

“The Witkoff Group’s aim is to have 1107 Broadway set the mark for luxury residential properties in the Madison
Square Park/Flatiron district,” said Steven Witkoff, Chief Executive Officer of The Witkoff Group. “Throughout
Manhattan there is only a limited supply of park-fronting condominiums, so the opportunity to develop a property
with unobstructed views of Madison Square Park and unique physical attributes is an exciting one. 1107 Broadway
has an excellent location in a popular neighborhood that is a live/work destination of choice, given its proximity to
both Midtown and Downtown Manhattan and its outstanding public transportation access.” 

About Morgan Stanley Real Estate Investing

Morgan Stanley Real Estate Investing (MSREI) is the global real estate investment management arm of Morgan
Stanley. Established in the early 1990s, MSREI has been one of the most active real estate investors for two
decades, acquiring over $175 billion of assets in 36 countries. MSREI leverages the expertise, relationships and
franchise of Morgan Stanley with dedicated real estate investing professionals located in 15 offices around the world
providing acquisition, finance and asset management services. MSREI manages opportunistic and core investment
strategies on behalf of its clients, including some of the largest pension funds, sovereign wealth funds and high net
worth investors worldwide.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment
banking, securities, investment management and wealth management services. The Firm's employees serve clients
worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42
countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

About The Witkoff Group

Founded in 1997, The Witkoff Group is a real estate investment and full-service development firm headquartered in
New York City, whose portfolio includes office, various land and hotel development interests, and residential
buildings. Witkoff specializes in identifying and acquiring value added development deals and undervalued properties
that require repositioning and large capital renovation programs. Over the last 15 years, Witkoff has acquired over
60 buildings totaling approximately 18 million square feet in all major central business districts throughout London
and the U.S., various hotels, and over 12,000 residential units, representing a total cost of approximately $7 billion.

Contacts
Morgan Stanley
Media Relations:
Matt Burkhard, 212-761-2444

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Description: NEW YORK--(EON: Enhanced Online News)--Morgan Stanley Real Estate Investing (MSREI) announced today the acquisition of 1107 Broadway (the former Toy Building North), a 350,000 square foot office building located along the west side of Madison Square Park in Manhattan, in partnership with The Witkoff Group. MSREI and The Witkoff Group plan to convert the vacant building, which was acquired through a short sale process, into luxury condominiums. “1107 Broadway is a terrific property that we are th a styl
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