The Real Deal New York

Blackstone shopping 1065 Sixth Avenue

Bryant Park office tower could fetch $700M: report

July 27, 2016 03:45PM

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1065 Sixth Avenue in Midtown

The Blackstone Group is shopping 665,000-square-foot office tower 1065 Sixth Avenue, which sources say could trade for as much as $700 million.

The 38-story property, built in 1957, is on the same block as 3 Bryant Park, which the fund manager sold to Canadian investment firm Ivanhoe Cambridge for $2.25 billion last year.

Real Estate Alert first reported the news. HFF has the listing.

In March, Blackstone TRData LogoTINY sold 16 U.S. hotels – including the Essex House on Central Park South – to Chinese insurer Anbang Group for $6.5 billion. Also in March it sold the leasehold on 1140 Sixth Avenue to New York REIT for $180 million.

And last month, it hired Ariel Property Advisors to market a portion of the Caiola multifamily portfolio.  As of June 30, the Blackstone Group’s real estate division had $103.2 billion in assets under management. [RE Alert]– Konrad Putzier

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