The Blackstone Group is shopping 665,000-square-foot office tower 1065 Sixth Avenue, which sources say could trade for as much as $700 million.
The 38-story property, built in 1957, is on the same block as 3 Bryant Park, which the fund manager sold to Canadian investment firm Ivanhoe Cambridge for $2.25 billion last year.
Real Estate Alert first reported the news. HFF has the listing.
In March, Blackstone sold 16 U.S. hotels – including the Essex House on Central Park South – to Chinese insurer Anbang Group for $6.5 billion. Also in March it sold the leasehold on 1140 Sixth Avenue to New York REIT for $180 million.
And last month, it hired Ariel Property Advisors to market a portion of the Caiola multifamily portfolio. As of June 30, the Blackstone Group’s real estate division had $103.2 billion in assets under management. [RE Alert]– Konrad Putzier