Davis Polk & Wardwell advised Altria Group, Inc. in connection with its sale on March 25, 2008, of 120 Park Avenue, New York, New York, for the purchase price of $525 million to a subsidiary of Global Holdings, Inc., a private US real estate investment company, which is part of Eyal Ofer family interests. As part of the transaction, Altria leased back a floor, and Philip Morris International Inc., a Virginia corporation and a subsidiary of Altria, which was subsequently spun off by Altria, leased three floors with approximately 74,500 aggregate rentable square feet.

The Davis Polk corporate team included partner Thomas Patrick Dore Jr., counsel Susan D. Kennedy and associates Karla Booth, Jonathan H. Pacheco and Jeffrey Meriggi (not yet admitted). Partner Gail A. Flesher and associate Brianne M. Lucyk provided environmental advice. Kathleen T. Ray was the legal assistant for the transaction. All members of the Davis Polk team work in the New York office.