Blackstone poised to sell 1095 Sixth Avenue for $2B

Eastdil Secured to market the 42-story, 1.2M-square-foot property

TRD New York /
Aug.August 28, 2014 04:50 PM

Blackstone Group is gearing up to sell the Verizon building at 1095 Sixth Avenue, and the office tower may fetch one of the highest prices ever paid for a U.S. skyscraper.

Blackstone has tapped Eastdil Secured to market the 42-story, 1.2 million-square-foot property, sources familiar with the plans told Bloomberg News. The tower, they said, could fetch as much as $2.25 billion.

Blackstone picked up the tower in 2007 as part of its $39 billion acquisition of Sam Zell’s Equity Office Properties Trust, which up until that point was the largest office landlord in the U.S. The building, now known as 3 Bryant Park, counts MetLife among its tenants. Verizon Communications, which once occupied all 41 stories of the property, is returning to the building in September.

A spokesperson for Blackstone declined to comment on plans to Bloomberg, and a spokesperson for Eastdil did not immediately return calls.

Currently, the most highly-valued office property in the country is 767 Fifth Avenue, where the families of Brazilian banking titan Moise Safra and Chinese magnate Zhang Xin bought a 40 percent stake in the building for $1.4 billion in June 2013. [Bloomberg News]Julie Strickland


Related Articles

arrow_forward_ios
Blackstone's Jonathan Gray (Credit: Getty Images and iStock)

Here’s a look at Blackstone’s industrial plays after its record-breaking portfolio purchase

From left: Jonathan Gray and Steve Schwarzman with Stuyvesant Town

Behind Blackstone’s “capital strike”

October Issue is Live

The Real Deal‘s October issue is now available to subscribers!

Blackstone's Jonathan Gray (Credit: Getty Images and Wikipedia)

Blackstone buys Colony Capital’s warehouse portfolio for $6B

Here’s why landlords don’t hate California’s rent control bill

Here’s why landlords don’t hate California’s rent control bill

65 East 55th Street and EQ Office CEO Lisa Picard (Credit: Park Avenue Tower and VTS)

Blackstone looks to sell Park Ave Tower for more than $800M

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

Blackstone CEO Stephen Schwarzman and Stuyvesant Town (Credit: Getty Images)

Authorities will conduct review of Stuy Town deal in light of Blackstone’s vacancy strategy

arrow_forward_ios