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
R-L: Willow's Kevin Danehy, Era Ventures' Clelia Warburg Peters, Fifth Wall's Brad Greiwe and The Real Deal's Hiten Samtani (Photo by Paul Dilakian)
Real estate tech is coming for your business
Real estate tech is coming for your business
Industrious CEO Jamie Hodari and CBRE chief financial and investment officer Emma Giamartino (LinkedIn, CBRE)
CBRE doubles down on flex-office provider Industrious
CBRE doubles down on flex-office provider Industrious
New York skyline
Rising interest rates will dampen city’s investment sales market this year
Rising interest rates will dampen city’s investment sales market this year
135 West 50th Street in Manhattan in NYC with George Comfort & Sons CEO Peter Duncan (Google Maps, George Comfort & Sons Inc.)
George Comfort & Sons inks 62K sf tenant in Midtown
George Comfort & Sons inks 62K sf tenant in Midtown
Schenectady City Council president Marion Porterfield (Facebook, iStock)
Destructive tenants driving upstate landlords to despair
Destructive tenants driving upstate landlords to despair
arrow_forward_ios

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

Loading...