SL Green, RXR partnership in lead to buy One Worldwide Plaza for $1.7B

New York REIT put tower for sale in January

New York /
Jul.July 12, 2017 12:30 PM

A partnership between SL Green Realty and RXR Realty is the front-runner to land New York REIT’s Midtown Office Tower One Worldwide Plaza after bidding $1.7 billion.

The bid translates to around $810 per square foot, Real Estate Alert reported. Eastdil Secured and CBRE are jointly representing the seller.

New York REIT put its 49 percent stake in the 1.8 million-square-foot tower up for sale in January following the firm’s decision to liquidate itself. At the time, sources told The Real Deal the property could fetch $1.8 billion.

In June, New York REIT exercised its option to buy the remaining 51 percent of the tower from George Comfort & Sons.

The real estate investment trust bought the stake in 2013 in a deal that valued the tower at $1.45 billion. Last year, the company decided to sell off all its assets amid lackluster stock market performance and appointed Wendy Silverstein to oversee the liquidation.  [REA] — Konrad Putzier

(To view more of New York REIT’s commercial sales transactions, click here)


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Slate Property's CEO Martin Nussbaum (West End 87)

Scale Lending originates $38M inventory loan for unsold UWS condos

Scale Lending originates $38M inventory loan for unsold UWS condos
Knotel CEO Amol Sarva (Sasha Maslov, Knotel, iStock)

Evictions, unpaid vendors and back rent: Lawsuits mounting against Knotel

Evictions, unpaid vendors and back rent: Lawsuits mounting against Knotel
From left: former Vornado CFO Joseph Macnow; ; Howard Hughes Corporation CEO David O’Reilly, former Cushman & Wakefield CFO Duncan Palmer (Photos via Vornado, Howard Hughes, Cushman & Wakefield)

Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes

Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
B6's Paul Massey and Tom Gammino (Photos via B6; Jll)

Tom Gammino joins Paul Massey’s B6

Tom Gammino joins Paul Massey’s B6
Residential construction accounted for 44% of spending in October. (iStock)

Housing drives rise in construction spending October

Housing drives rise in construction spending October
arrow_forward_ios

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

Loading...