The Blackstone Group signed a contract to buy a 49-percent stake in One Liberty Plaza from Brookfield Property Partners, valuing the FiDi tower at $1.55 billion.
With a price tag of $660 per square foot, the deal is of of the most expensive downtown office sales ever recorded, the New York Post reported. Blackstone is making the investment with its core-plus fund — the low-risk, long-term investment vehicle that also owns a stake in Stuyvesant Town-Peter Cooper Village.
Brookfield put the 2.3 million-square-foot, 54-story tower up for sale in October and also considered selling the entire building, Real Estate Alert reported at the time. Cushman & Wakefield’s Doug Harmon and Adam Spies had the listing.
It’s the first time Brookfield has brought in a minority partner at one of its Manhattan Office skyscrapers.
Brookfield refinanced the building with a $784 million Morgan Stanley mortgage in August.
After years of aggressive investments in the New York real estate market, Blackstone had a more quiet 2017 — until now. In October, the company’s president Tony James said the company still sees opportunities in U.S. real estate. [NYP] — Konrad Putzier