The Real Deal New York

Blackstone poised to sell 1095 Sixth Avenue for $2B

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

August 28, 2014 04:50PM

Blackstone CEO Stephen Schwarzman and 1095 Sixth Avenue

Blackstone CEO Stephen Schwarzman and 1095 Sixth Avenue

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

  • ralphpetrillo

    Last time he started getting ut of the stock market a few months later ti fell hard.

    If he wants out of real estate , may be a top.

  • Inside

    Werner! Where you at ;)