New York State Teachers' Retirement System, Albany, bought a 49%...

New York State Teachers' Retirement System, Albany, bought a 49% interest in 245 Park Ave., New York, from Brookfield Properties, said NYSTRS spokesman Dave Daly. The $72.4 billion system will pay $195 million in cash and assume $243 million in property-level debt. Funding will come from cash. Brookfield will retain the remaining 51% of the 45-floor skyscraper, tenants of which include J.P. Morgan Chase and Major League Baseball. ING Clarion assisted.