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The piano maker to the stars has lined up a deal to regain ownership of its famed 57th Street showroom building.
Steinway & Sons signed a letter of intent to buy 111 W. 57th St. from an investor group headed by Joseph Jacobs of Wexford Management. The price is about $63 million, or $280 a square foot, real estate industry sources say.
The stately office tower houses the Steinway Hall Showroom. The 30,000-square-foot space, graced with Italian marble columns, is laid out like a museum to showcase the magnificent concert grand pianos that are Steinways specialty. The basement below has practice rooms where...