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Article: The Winners: Mail-Order Magnate Hadar Family Rises Up to Buy Citigroup Center.(FinancialObserver)
- Article from:
- The New York Observer (New York, NY)
- Article date:
- February 12, 2001
CopyrightCOPYRIGHT 2001 The New York Observer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Andrew Rice
When word leaked in late January that the Citigroup Center, the blue-glass Lexington Avenue skyscraper with the wedge-shaped top, was about to be sold, the clannish world of New York real estate reacted with uniform shock. It wasn't the sale itself that was surprising--for several months, the building had been rumored to be on the market--or the price, $725 million. It was the name of the buyer: Eric Hadar.
"Everyone in the community went, 'What?'" said Peter Hauspurg, the chairman of Eastern Consolidated Properties.
Mr. Hadar, 36, had made a modest name for himself using seed money from his father, Richard, to acquire and ...