Brookfield, Blackstone consider One Liberty Plaza sale

Investors seeking up to $1.7 billion for the office tower

Mar.March 05, 2020 10:15 AM
Brookfield Property Group’s Brian Kingston, Blackstone Group's Jonathan Gray and 1 Liberty Plaza (Credit: Google Maps)

Brookfield Property Group’s Brian Kingston, Blackstone Group’s Jonathan Gray and 1 Liberty Plaza (Credit: Google Maps)

Brookfield Property Partners and Blackstone Group are reportedly in talks about a possible sale of One Liberty Plaza, a 2.3 million-square-foot office tower in the Financial District.

The firms are hoping to get about $1.6 billion to $1.7 billion for the tower, according to Bloomberg, which cited sources familiar with the discussions.

Brookfield put the tower at 165 Broadway up for sale in October 2017, asking $1.6 billion. Months earlier, it refinanced the tower with an $850 million loan from Morgan Stanley.

That December, Blackstone acquired a 49 percent stake in the building. The firms have previously discussed a partial sale, according to reports.

Tenants at One Liberty Plaza include WeWork rival Convene, which leased 93,000 square feet in 2018, as well as law firm Cleary Gottlieb Steen & Hamilton LLP. [Bloomberg] — Sylvia Varnham O’Regan

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