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)