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The Real Deal New York

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BlackRock

55 East 52nd Street, Park Avenue Plaza
New York, NY 10055
institutional.inquiries@blackrock.com
Website
BlackRock
BlackRock
BlackRock is the world’s largest assets manager as well as a top firm for investment and risk management. Its total assets in spring 2014 totaled more than $4 trillion and its revenue more than $10 billion. The firm has used this windfall to invest in major real estate deals in New York City and elsewhere. BlackRock most famously partnered with Tishman Speyer on the doomed purchase of the Stuyvesant Town and Peter Cooper Village apartment complexes in 2006 in what was then the biggest property trade ever (the partners eventually defaulted on loans tied to the $5.4 billion purchase). BlackRock has also partnered with Harry Macklowe, Pimco and the California Public Employees’ Retirement System on New York real estate. What’s sometimes called the “world’s largest investor” started modestly enough in 1988 as a wing of investment giant Blackstone. It eventually went independent, and then went public, under current chairman and CEO Leonard Fink. The firm is headquartered in 55 East 52nd Street.
ziel feldman fb
02/05/16
Ziel Feldman’s HFZ Capital Group is looking to raise around $250 million in EB-5 funds for its latest High Line condo development at 518 West...
SonnyKahnHanleyfbox
02/02/16
Miami-based developer Crescent Heights withdrew plans for a $337.5 million condominium conversion on the Upper East Side, a neighborhood that’s experiencing a residential construction boom...
Ackman Stuy Town small
01/25/16
UPDATED: Jan. 26, 11:56 a.m.: Pershing Square Capital Management and Winthrop Realty Trust are suing CWCapital for $500 million, claiming they got bilked out of...
Stuy-Town-oriceFbox
01/07/16
In October, when news broke of the sale of Stuyvesant Town-Peter Cooper Village to the Blackstone Group and Ivanhoe Cambridge, most news outlets reported a...
01/05/16
TRD Special Report: When the heiress Bunny Mellon died in 2014 at age 103, Sotheby’s sold her art collection – with pieces from Georges Braque and...
The-Real-Deal-2015
12/31/15
New York City has, for quite some time, been the world’s most dynamic and high-stakes real estate market. But 2015 pushed all the elements that...
stuy-town-David-Tepper-FB
12/28/15
The city’s largest single-asset real estate transaction in nearly a decade may be a done deal, but behind the scenes the battle wages on for...
ranking small
12/22/15
UPDATED, 2:12 p.m., Dec. 23: New York’s investment sales market continued to soar in 2015, bolstered by an enthusiastic lending environment. While many of the...
MANHATTAN OFFICE VACANCY
12/21/15
The sale of Stuyvesant Town to the Blackstone Group and Ivanhoe Cambridge closed on Friday, but not without some heavy drama behind the scenes. Tags:...
WellsFargoStuyTownFbox
12/10/15
In 1852, four years after gold flakes were first discovered at Sutter’s Mill, Henry Wells and William Fargo founded a company that would play a...
Larry Fink Euro thumb
12/10/15
The world’s largest asset manager, BlackRock, plans to take advantage of the weak euro to buy as much as $2.7 billion in European property over...
Briger
11/12/15
Four investors in Stuyvesant Town Peter Cooper Village are suing CWCapital and Wells Fargo, looking to prevent CWC from reaping an alleged “windfall” of more...
Stuytown 2006 memo
11/09/15
Years before famously defaulting on $4.4 billion in loans, Tishman Speyer and BlackRock Realty had lofty ambitions for America’s most famous housing complex — Stuyvesant Town...
HowStuyTownFbox
10/29/15
TRD Special Report:In August 1947, as the first tenants were moving into Stuyvesant Town-Peter Cooper Village, workers installed a small metal plaque on the west...
Stuyvesant Town and Peter Cooper Village
10/24/15
As Tishman Speyer’s $5.4 billion acquisition of Stuyvesant Town and Peter Cooper Village transitions from the biggest deal in American real estate to the biggest...
Stuyvesant Town (inset: Larry Fink)
10/21/15
BlackRock’s Larry Fink has no regrets about about one of his firm’s most public failures, the purchase of Stuyvesant Town in 2006, along with partner...
Stuyvesant Town and Peter Cooper Village
10/18/15
CW Capital Asset Management is preparing to sell Stuyvesant Town-Peter Cooper Village. The loan servicer, which controls Stuyvesant Town on behalf of bondholders, has tapped...
feature photo menin
10/16/15
The husband of the city consumer affairs commissioner and his real estate partners improperly tried to force tenants out of an Upper East Side apartment building to...
Rendering of pool at AKA Sutton Place
09/10/15
For more than 10 years, Korman Communities has operated five extended-stay hotels in New York City under its AKA brand. Now, the Korman family wants...
Ziel-Feldman-Howard-Lorber-76-EleventhFB
08/18/15
Zeil Feldman has brought Howard Lorber’s New Valley Real Estate firm on as an investor in his Bjarke Ingels-designed condo project on the High Line,...
07/29/15
Rent-to-own programs, popular in the 1990s, are making a comeback, with several newly-established firms giving potential buyers with damaged credit an opportunity to become homeowners....
Riverside Center rendering
07/24/15
GID is negotiating with Wells Fargo and other banks to secure a loan of more than $1 billion for three towers at the Riverside Center...
steveroththumb
05/26/15
Real estate giants Vornado Realty Trust and SL Green Realty both had profit margins more than 20 percent in 2014, making them some of New...
From left: HFZ's Ziel Feldman, 518 West 18th Street , and Carlton's Howard Michaels
05/07/15
UPDATED, May 7, 5:16 p.m.: Ziel Feldman’s HFZ Capital Group has closed on the acquisition of a $870-million High Line development site after securing $1 billion in...
234 East 46th Street
04/30/15
Apartments in the city’s first crowd-funded condo project are hitting the market, with prices starting at $1.2 million. Tags: blackrock, Crowdfunding, korman communities, prodigy network...
To see all, go to Advanced Search
BlackRock, Chairman, Global Real Estate Business
55 East 52nd Street, New York, NY, 212-810-5300
Jack Chandler is chairman of the global real estate business at BlackRock, the...
BlackRock, Chairman and CEO
55 East 52nd Street, New York, NY, 212-810-5300
Laurence Fink is chairman and chief executive officer of BlackRock Inc., the world’s...
BlackRock, Vice President, Real Estate Acquisitions
55 East 52nd Street, New York, NY, 212-810-5300
Chris Lackett is vice president for real estate acquisitions at BlackRock, the world’s...
BlackRock, Vice President
55 East 52nd Street, New York, NY, 212-810-5300
Eloisa Kasper is a vice president at BlackRock, where she has held various...
BlackRock, Director of Global Data Center Operations and Construction Manager
55 East 52nd Street, New York, NY, 212-810-5300
Joshua Vallario is director of global data center operations and construction manager at...
BlackRock, Director, BlackRock Alternative Solutions
55 East 52nd Street, New York, NY, 212-810-5300
Arnab Mazumdar is a director at BlackRock Alternative Solutions, where he designs and...
BlackRock, Business Manager, COO Team
55 East 52nd Street, New York, NY, 212-810-5300
Joseph T. Kang is a business manager in BlackRock Real Estate’s COO team...
BlackRock, Managing Director
55 East 52nd Street, New York, NY, 212-810-5300
Ted Stratigos is a managing director at BlackRock, where he leads the platform...
BlackRock, Managing Director, Global Head of AUM Reporting
55 East 52nd Street, New York, NY, 212-810-5300
Avi Masry is a managing director and global head of AUM reporting at...
BlackRock, Managing Director
55 East 52nd Street, New York, NY, 212-810-5300
Don Benningfield is a managing director of real estate at BlackRock, the world’s...
  • Event Office Leasing
  • Address 55 East 52nd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 31,000
notes
The financial planner signed an eight-year expansion lease to occupy the entire 27th floor.
  • Event Financing
  • Address 545 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Publication Date 03/01/2008
  • Event Date 01/21/2008
  • Party 1 LCOR Incorporated, Blackrock
  • Party 2 KeyBank
notes
A $60.7 million construction loan and an $11 million line of credit were provided for an office redevelopment project. The new building is expected to gain a LEED Gold rating and is scheduled for completion in mid-2008. 17-story office building.
  • Event Sales
  • Address 10 West 74th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 38,000,000
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 BlackRock Diamond Property Fund
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom
  • Party 2 West 74 LLC
notes
The property sold for $38 million. The seller originally acquired the building in 2006 for $45 million.
  • Event Sales
  • Address 428 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 47,300
  • Price $ 65,000,000
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 1 Blackrock Realty Advisors
  • Party 1 Brokerage JLL
  • Party 1 Broker Richard Baxter, Jon Caplan, Scott Latham, Ron Cohen
  • Party 2 The Yucaipa Companies
notes
The property sold for $65 million. The building, which has 9,460 square feet of retail space, is 100 percent occupied by office and retail tenants.
  • Event Sales
  • Address Stuyvesant Town, Peter Cooper Village
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 5,400,000,000
  • Price per foot $ 480,000.00
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 1 MetLife
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, William Shanahan
  • Party 2 Tishman Speyer
notes
The partnership agreed to pay $5.4 billion, or $480,000 per unit, for the 80-acre, 110-building complex. The deal is reportedly the most expensive real estate transaction in US history to date.
  • Event Sales
  • Address 530 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 180,000
  • Price $ 211,000,000
  • Publication Date 08/01/2007
  • Event Date 06/22/2007
  • Party 1 Katz Family
  • Party 2 Blackrock Realty Advisors
notes
The 139-unit rental building sold for $211 million, or $1.51 million per rental unit, in one of the most expensive per-unit sales to date. The per-square-foot price was $1,192.
  • Event Sales
  • Address 30 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 97,000,000
  • Publication Date 11/01/2005
  • Event Date 09/22/2005
  • Party 1 Rudin family
  • Party 1 Brokerage Eastdil Secured
  • Party 1 Broker Douglas Harmon
  • Party 2 Blackrock, CalPERS
notes
The 236,000-square-foot Emory Roth & Sons-designed building sold for $97 million. About 70 percent of the units are rent-stabilized. Condo conversion is likely.
  • Event Sales
  • Address 545 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 140,000
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 1 Marx Realty and Improvement Company
  • Party 1 Brokerage CBRE
  • Party 1 Broker William Shanahan, John Powers
  • Party 2 LCOR, Lehman Brothers, Blackrock
notes
A 75-year ground lease was structured for the vacant building. LCOR and its partners intend to undertake a gut renovation of the property, with construction expected to begin in early 2007. Occupancy is slated for spring 2008. Price n/a.
  • Event Sales
  • Building Name The Westminster
  • Address 165 East 66th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 154,000,000
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Nagel family
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, William Shanahan
  • Party 2 CalPERS, Blackrock
notes
The pension fund is said to have acquired the property for a total of $154 million ($30 million plus $124 million for the assignment of the lease), or $1 million per unit.
  • Event Sales
  • Building Name The Wellington
  • Address 200 East 62nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 173,000,000
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Nagel Family
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, William Shanahan
  • Party 2 CalPERS, Blackrock
notes
The pension fund is reported to have acquired the property for a total of $173 million ($28 million plus $145 million for the assignment of the lease), or $1.5 million per unit.
  • Event Retail Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,000
  • Publication Date 12/01/2008
  • Event Date 10/22/2008
  • Party 1 Blackrock Realty
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Alan Weisman, Stuart Siegel
  • Party 2 Paige Premium Denim
notes
The apparel retailer signed a lease.
  • Event Retail Leasing
  • Address 142 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Publication Date 06/01/2008
  • Event Date 04/22/2008
  • Party 1 L&L Holding Company, Blackrock Realty
  • Party 1 Brokerage CBRE
  • Party 1 Broker Michael Blum
  • Party 2 Milos, Estiatorio
notes
The tenant signed a lease to open a takeout branch of its seafood restaurant.
  • Event Retail Leasing
  • Address 1144 Third Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 2,200
notes
The fashion retailer signed a lease. The reported asking rent was $225 per square foot.
  • Event Office Leasing
  • Address 600 Third Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 4,139
  • Publication Date 02/01/2009
  • Event Date 12/23/2008
  • Party 1 Blackrock
  • Party 2 JFE Steel America
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Barrett Stern
notes
The dealer of steel materials signed a lease.
  • Event Office Leasing
  • Building Name Park Avenue Plaza
  • Address 55 East 52nd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 150,000
notes
Blackrock subleased the space from the Dutch financial firm.
  • Event Office Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,388
  • Publication Date 12/01/2008
  • Event Date 10/22/2008
  • Party 1 Blackrock Realty
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Alan Weisman, Stephen Siegel, Frank Mancini
  • Party 2 Creative Film Management
notes
The film production company leased space.
  • Event Office Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,392
  • Price per foot $ 55.00
notes
The executive search firm signed a five-year, three-month lease.
  • Event Office Leasing
  • Address 1039 Third Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 600
  • Price per foot $ 200.00
notes
The jeweler signed a 10-year lease.

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01/05/16
TRD Special Report: When the heiress Bunny Mellon died in 2014 at age 103, Sotheby’s sold her art collection – with pieces from Georges Braque and...
The-Real-Deal-2015
12/31/15
New York City has, for quite some time, been the world’s most dynamic and high-stakes real estate market. But 2015 pushed all the elements that...
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The market for big packages of multifamily buildings may have less sex appeal than the fancy condos adorning Billionaire’s Row, but the sector is going...
Over the past two years, companies like SL Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted their purchases of distressed properties in...

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