The 100-year-old eight-story loft building at 1150 Sixth Avenue between 44th and 45th Streets, otherwise known as the Pan American Magazine Building, is on the verge of being purchased for $39 million by luxury hotelier Morris Moinian, who plans on building a 40-story, $140 million hotel tower on the site. Historical footnote: the current building played a role in getting Sixth Avenue renamed Avenue of the Americas. [NYP; previously]
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