The Real Deal New York

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

New York REIT put tower for sale in January
July 12, 2017 12:30PM

From left: One Worldwide, Scott Rechler and Marc Holliday

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)