The partnership buys a piece of property for $400,000.
The partnership bought some Citibank notes in 1989, then sold most of them later that year.
Before construction begins, the partnership will buy three acres that the city owns, based on a market value appraisal.
Since 1982, the company or partnerships affiliated with it have bought 11 insurance companies.
Two years later, the new partnership bought the building for the same price.
Recently, he has been promoting a plan to build a new stadium by 1994 for the team that his partnership bought in 1989.
Later the partnership bought about 50,000 square feet of retail space.
In 1995, the partnership bought another adjoining building, No. 17, as well.
To enlarge the site, the partnership bought a small building and driveway facing on 43d Street.
He announced last week that his partnership would buy the National League team for $75 million.