Familiar face in contract on Ruben Companies’ One Dag Hammarskjöld Plaza

Rockpoint Group, which previously bought 1700 Broadway, is in contract for the building

TRD NEW YORK /
Sep.September 07, 2018 08:30 AM

Clockwise from left: Rockpoint Group’s Paisley Boney, Keith Gelb, William Walton, and One Dag Hammarskjöld Plaza (Credit: PropertyShark and Rockpoint Group)

Rockpoint Group is buying One Dag Hammarskjöld Plaza for about $600 million.

This marks the first sale for the Midtown building at 885 Second Avenue since 1974, when it was first developed by Lawrence Ruben, according to the New York Post. It spans 815,000 square feet, which would put the sale price around $730 a square foot.

Cushman & Wakefield’s Douglas Harmon, Adam Spies and Kevin Donner marketed the building. They marketed 1700 Broadway as well, which Ruben Companies chief executive Richard Ruben sold to Rockpoint in January for $453 million.

One Dag Hammarskjöld Plaza is located very close to the United Nations, and its office space is filled by missions for several countries and the UN’s pension fund. The building attracted interest across the globe based on its international reputation, including from sovereign wealth funds.

Rockpoint Group is a real estate private equity fund based in Boston and also owns Starrett City, which it closed on with Brooksville Company in May for $905 million. [NYP] – Eddie Small


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Bernie Sanders (Credit: Getty Images)

Bernie Sanders throws support behind New York rent-suspension bill

Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Hometrack Managing Director David Ross and a view of Nottingham, England (Credit: Hometrack)

Demand for housing tanks in UK as buyers stay home

(Credit: iStock)

Stimulus deal buoys real estate stocks, but coronavirus maintains its grip

The Plaza Hotel, Sofitel New York at 45 West 44th Street and Le Bernardin at 155 West 51st Street (Credit: Yarl via Wikipedia Commons, Sofitel and Le Bernadin)

Mass layoffs claim jobs at the Plaza, Sofitel and Le Bernardin

arrow_forward_ios
Loading...