As many of you are aware, the International Toy Center has been sold, 54 years after it was purchased by a group of investors led by Lawrence A. Wien. The decision to sell this landmark property after so many years was not easy, says Anthony E. Malkin, president of Wien & Malkin Supervisory Services, the asset manager for W&H Properties. "The ITC has undergone many changes in this past half-century, but the most significant ones took place after it became part of the W&H portfolio," he notes. "We're thrilled that it has been such a successful investment, but, at the same time, we're awfully sad to see it go."
Robert A. Gellman, president of Broadway Toys, Inc., experienced many of these changes over the past three decades in which his company has been a tenant. In a letter to Mr. Malkin, he wrote, "Your company has run an excellent building, and we will miss being here whenever we are compelled to move. É I hope that wherever we land, that we will have space in a building that is maintained as well as your company and your managing agents have done at 200 [Fifth Avenue]."
W&H is pleased to have had the opportunity to serve the tenants at the ITC and the toy industry at large, and wishes them every success in the future.
|
|
