The Real Deal New York

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

Rockpoint Group, which previously bought 1700 Broadway, is in contract for the building
September 07, 2018 08:30AM

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