The Real Deal New York

Normandy in talks to buy former AMEX HQ

April 12, 2014 11:00AM

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65 Broadway

65 Broadway

Normandy Real Estate Partners is in negotiations to purchase American Express Co.’s former address at 65 Broadway in the Financial District.

The firm is arranging to buy the 21-story, 350,000-square-foot office building just south of Rector Street from A.M. Property Holding Corp. on behalf of an undisclosed Asian investor.

Though it wasn’t revealed how much Normandy was looking to pay for 65 Broadway, it’s likely worth more than $100 million. Adam Spies and Doug Harmon of Eastdil Secured are handling the sale.

Although the sale isn’t a foregone conclusion, this could be the third property acquisition along a block-long part of Broadway just north of Bowling Green in months if Normandy closes the deal.

Last month, the large real estate investment firm RXR Realty purchased 61 Broadway, which is 65 Broadway’s neighbor, for more than $300 million. Harbor Group Financial bought 55 Broadway, the building that is neighbors with 61 Broadway, for roughly $82 million. [Crain’s] —TRD

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