He’s putting all his chips on New York City.
Himmel + Meringoff Managing Partner Stephen Meringoff told The Commercial Observer that he has sold the last building in his Los Angeles portfolio, leaving the firm with a roster made entirely of New York City properties.
The owners of 114 Fifth Avenue are exploring a sale of the building or a possible leasehold interest in the property sources say.
The approximately 340,000-square-foot midtown south building is held by an anonymous family owner, people familiar with the property said. The building will likely require a substantial infusion of cash in the near future, a factor that is perhaps prompting the offering.