Eliot Spitzer back in D.C. hitting headlines
Eliot Spitzer is returning to Washington, D.C, hold on …. This time as an investor in the commercial real-estate market.
The Spitzers are paying $180 million to buy 1615 L St. NW, a 13-story dark-glass building.
The building is one block from the Mayflower Hotel, the location of Mr. Spitzer’s tryst, which led to his undoing.
The family’s company owns several prominent towers, including the Crown Building at 730 Fifth Ave. in Manhattan. They rarely sell property. “We have a longtime horizon and little debt,” Mr. Spitzer said.
The elder Mr. Spitzer built some of the largest and most expensive apartment buildings in Manhattan, including the 56-story Corinthian and several luxury buildings on Fifth Avenue
The purchase was made possible largely because the Spitzers will inherit a $138 million existing mortgage and will pay the balance — $42 million — in cash.
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