Normandy in talks to buy former AMEX HQ

New York /
Apr.April 12, 2014 11:00 AM

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


Related Articles

arrow_forward_ios
Interior and exterior renderings courtesy of Urbanspace.
Urbanspace inks lease for Financial District food hall
Urbanspace inks lease for Financial District food hall
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)
7 Manhattan hotels head to auction block
7 Manhattan hotels head to auction block
84 William Street with Vanbarton Group's Gary Tischler and Richard Coles (Google Maps)
Vanbarton takes control of Prodigy Network’s William Street hotel
Vanbarton takes control of Prodigy Network’s William Street hotel
 8 Spruce Street and Brookfield's Bruce Flatt (New York by Gehry, iStock, Brookfield)
Bad year: 1 in 5 units at Gehry skyscraper goes vacant
Bad year: 1 in 5 units at Gehry skyscraper goes vacant
90 William Street (Google Maps; iStock)
Court puts condo investors on the hook for shoddy construction
Court puts condo investors on the hook for shoddy construction
Four New York Plaza (Photo via Hines)
Four New York Plaza office tower hits the market
Four New York Plaza office tower hits the market
Sales prices in the Financial District prove to be an outlier in Lower Manhattan and the borough as whole (iStock)
Financial District sales price jumped 123% last quarter: report
Financial District sales price jumped 123% last quarter: report
161 Maiden Lane and Fortis CEO Jonathan Landau (Google Maps; Fortis)
Construction loan tied to “leaning” Seaport condo up for sale
Construction loan tied to “leaning” Seaport condo up for sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...