Invesco buys 80 Broad Street in $235M deal

Sellers keep 5% stake

TRD New York /
Nov.November 15, 2017 09:13 AM

Invesco bought a 95 percent stake in 80 Broad Street, valuing the FiDi office tower at $235 million, or $550 a square foot.

The sellers, Raymond Chalme and Daniel Blanco’s Broad Street Development, are keeping a 5 percent stake and will continue to manage the 425,000-square-foot Financial District property. Cushman & Wakefield brokered the deal.

Chalme and Blanco bought the 36-story Art Deco tower, which was built in the 1930s, for $175 million in 2014.

Atlanta-based Invesco sold its stake in the Dumbo Heights office development to Kushner Companies, RFR Realty and LIVWRK earlier this year for $600 million. [NYP]Konrad Putzier


Related Articles

arrow_forward_ios
An aerial view of a pop-up drive-in theater built in the parking lot at the Broadway Commons in Hicksville, New York (Getty)

Covid pummeled shopping centers, but their parking lots are thriving

Covid pummeled shopping centers, but their parking lots are thriving
20 West 33rd Street (20West33rd)

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project
Bank OZK CEO George Gleason (Unsplash; Bank OZK)

Bank OZK’s lending up in third quarter

Bank OZK’s lending up in third quarter
Gap CEO Sonia Syngal (Getty)

Gap Inc. will close 350 stores and exit malls entirely

Gap Inc. will close 350 stores and exit malls entirely
Steve Cohen and Citi Field (Getty)

Citi Field lease clause could stymie billionaire’s quest for the Mets

Citi Field lease clause could stymie billionaire’s quest for the Mets
Consumers are using streaming services more than ever, and data center real estate is booming (iStock)

Real estate for data centers is having a moment

Real estate for data centers is having a moment
Paul Manafort and Manhattan district attorney Cyrus Vance, Jr. (Getty)

Manafort mortgage-fraud case dismissed, again

Manafort mortgage-fraud case dismissed, again
Howard Hughes’ Saul Scherl and a rendering of 250 Water Street (Getty, The Howard Hughes Corporation/SOM)

Howard Hughes to launch review process for $1.4B Seaport tower

Howard Hughes to launch review process for $1.4B Seaport tower
arrow_forward_ios

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

Loading...