Invesco buys 80 Broad Street in $235M deal

Sellers keep 5% stake

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
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joel Landau, chairman and founder of Allure Group. (Google Maps, Score NYC)
These were the top outer-borough loans last month
These were the top outer-borough loans last month
David Schonbraun (SL Green)
SL Green investment chief David Schonbraun steps down
SL Green investment chief David Schonbraun steps down
Aby Rosen and 522 Fifth Avenue (Getty, Google Maps)
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
Nearly half of new shops in 2021 will be dollar stores. (Getty)
2021 is raining dollar stores
2021 is raining dollar stores
National chains and mom-and-pop stores are seeing increasing sales per square foot and shrinking occupancy costs (Getty)
National chains paid 93% of rent in April
National chains paid 93% of rent in April
(RIPCO, iStock)
Target, Five Below, Smashburger open in new Brooklyn shopping center
Target, Five Below, Smashburger open in new Brooklyn shopping center
Close to 80 hotels with more than 13,000 rooms plan to open in 2021. (iStock)
Big year seen for hotel openings, despite few visitors
Big year seen for hotel openings, despite few visitors
arrow_forward_ios

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

Loading...