The Israeli firm VSP Capital Holdings said on Thursday its U.S. subsidiary signed an agreement to buy U.N. Plaza, a complex of three office buildings across from United Nations headquarters in New York.

VSP Capital stated to the Tel Aviv Stock Exchange that the deal for the buildings on the East Side of Manhattan is dependent on approval from the New York City municipality and is expected to close in the first quarter of 2002.

Capital Real Estate is controlled by Tel Aviv investment firm Capital Holdings and businessman Ronnie Yitzhaki.

The buildings are located between 43rd and 45th Streets on First Avenue, Manhattan, in front of the UN Conference Hall. Built in 1986, the buildings have about 120,000 square meters of space, or 1.15 million square feet. They have been leased for periods of 8 to 20 years for prices ranging from $25 to $27 per meter.

With Reuters