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Invesco buys 80 Broad Street in $235M deal

Sellers keep 5% stake

80 Broad Street
80 Broad Street

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.

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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

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Commercial Real EstateInvesco Real Estate