The Real Deal New York

Rockpoint finalizes $282M deal for 1440 Broadway

Transaction for building, home to Macy's, will recapitalize the tower
By Katherine Clarke | January 07, 2013 11:15AM

Real estate private equity firm Rockpoint has closed on a deal to purchase an 80 percent stake in 1440 Broadway for $282.4 million, according to public records filed today with the city.

The company officially completed the transaction with seller Prudential Real Estate December 21, records show. Doug Harmon and Adam Spies of Eastdil Secured represented the seller in the deal.

Rockpoint inked a contract for the stake in October. The transaction recapitalizes the 25-story Times Square South tower at around $350 million, the New York Post first reported.

The remaining stake in the 740,000-square, foot tower is owned by Monday Properties, which also manages and leases the building. As previously reported, retailer Macy’s recently renewed its 11-year lease at the building, signing on for an additional 31,700 square feet.

Neither Harmon nor Spies immediately responded to a request for comment.