MetLife sells Sears Tower

CHICAGO SUN TIMES | March 12, 2004
By David Roeder

Sears Tower is being sold, and the deal represents votes of confidence both in the Chicago real estate market and the nation's war on terrorism. 

MetLife Inc., owner of the 110-story tower in the West Loop, disclosed the sale Thursday. MetLife wouldn't reveal the buyers, but a source close to the sale said they are New York investors who held the lease on the World Trade Center. 

The buyers, the source said, are Lloyd Goldman, Joseph Cayre and Jeffrey Feil. The same men also were named as the buyers by the Slatin Report, a Web site covering New York real estate. All are prominent but secretive Manhattan landlords.

Goldman and Cayre joined with Larry Silverstein in buying the trade center lease for $3.2 billion months before the twin towers were destroyed in the terrorist attacks of Sept. 11, 2001.

Silverstein is embroiled in lawsuits over a $7.1 billion insurance payout for his ownership group. A spokesman said Silverstein is not involved in the Sears Tower deal.