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Yes, The Country Of Senegal Could Be Your Midtown Landlord

So, the Republic of Senegal could be your landlord. Hypothetically, in a roundabout way. Many years down the line. Here's how it works. The African nation paid $23.9 million for a lot on East 44th Street back in 2009. Then the country transferred a 50 percent interest, valued at $25 million (see how it's worth more now?), in the site to an LLC linked to investor Ron Yeffet.

Here's where it gets relevant: now a joint venture between the two wants to erect a 22-story tower on the spot. Permits filed with the Department of Buildings show 20 residences and office space earmarked for the structure, which is between Second and Third avenues. The two parcels at 227-235 East 44th Street went through a legal kerfuffle late last year, but now that that's all tied up and Yeffet is involved, plus the permits have been filed, keep an eye out for construction to start. As always, if you see something, say something.
· Senegal closes JV deal, plans mixed-use Midtown tower [TRD]