The Real Deal New York

Stacom and Shanahan broker two Midtown skyscraper deals

August 24, 2011 08:54AM


From left: CBRE’s Darcy Stacom and William Shanahan, 2 Grand Central Tower and 299 Park Avenue

It’s been a good week for CB Richard Ellis’ Darcy Stacom and William Shanahan. The Alaska Permanent Fund has agreed to pay $1,075 per square foot for a 49.5 percent stake they were marketing in 299 Park Avenue, sources told the New York Post, in a deal revaluing the property at $1.25 billion.

The pair were hired by the Rockpoint Group to market their share in May. Rockpoint purchased the stake from Swiss bank UBS in January 2010. That earlier deal had valued it at just over $600 million, or $625 per square foot.

Developer Fisher Brothers still holds the majority share and runs the Class A building.

Stacom and Shanahan also brokered a deal on behalf of Boston Properties for 2 Grand Central Tower at 140 East 45th Street. Rockwood Capital is apparently ponying up over $400 million on behalf of an East Coast-based fund to buy the building, which is currently controlled by Dubai’s ruler, Sheikh Mohammed bin Rashid. [Post, 1st item]

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