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The Real Deal New York

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BlackRock

55 East 52nd Street, Park Avenue Plaza
New York, NY 10055
(212) 810-5300
Website
institutionalinquiries@blackrockcom
BlackRock

BlackRock is the worlds largest assets manager as well as a top firm for investment and risk management. Its total assets in spring 2014 totaled more than $4 trillion and its revenue more than $10 billion. The firm has used this windfall to invest in major real estate deals in New York City and elsewhere.

BlackRock most famously partnered with Tishman Speyer on the doomed purchase of the Stuyvesant Town and Peter Cooper Village apartment complexes in 2006 in what was then the biggest property trade ever (the partners eventually defaulted on loans tied to the $5.4 billion purchase). BlackRock has also partnered with Harry Macklowe, Pimco and the California Public Employees Retirement System on New York real estate.

Whats sometimes called the worlds largest investor started modestly enough in 1988 as a wing of investment giant Blackstone. It eventually went independent, and then went public, under current chairman and CEO Leonard Fink. The firm is headquartered in 55 East 52nd Street.


01/10/17
The taxman cometh, but not for Related Companies and Oxford Properties Group’s 50 Hudson Yards. The developers will receive $195 million in tax breaks from...

01/09/17
The era of the $4 billion office tower is upon us. Related and Oxford are pegging the cost of 50 Hudson Yards, a 2.8 million-square-foot,...

01/06/17
...BlackRock headquarters From the January issue:  Financial behemoth BlackRock is planning to pick up stakes in Midtown, move to...

01/04/17
Reinsurance company Swiss Re is relocating and downsizing its midtown office space by signing up for 67,688 square feet at Paramount Group’s 1301 Sixth Avenue....

01/03/17
The Related Companies’ 50 Hudson Yards is expected to be the most expensive office building ever constructed in the city, with an all-in price tag...

01/03/17
Wherever you go in Hudson Yards, it seems as if the cacophony of construction follows you. It’s no surprise then that the area is home...

12/29/16
The most prolific architects in New York City also tend to be the least visible. These are the firms that are often involved in development...

12/15/16
The Related Companies closed on a 75-year ground lease on the final piece of land it needs to develop 50 Hudson Yards, the largest building...

12/12/16
Wall Street firms like Alliance Bernstein and HSBC with leases expiring in the near term are turning up the heat on their searches for new...

12/09/16
UPDATED, Dec. 9, 3:00 p.m.: Cutting-edge pharma firm Intercept Pharmaceuticals has finalized a deal for its new headquarters at the Related Companies’ 55 Hudson Yards. The...

12/09/16
Current reader favorites: 1. Inside Fried Frank’s annual bash at Cipriani 2. Top 10 biggest real estate projects coming to NYC 3. The long view:...

12/08/16
...Laurence Fink and Jay Cross with renderings of 50 Hudson Yards BlackRock inked a preliminary agreement to move into the Related Companies...

50 Hudson Yards
11/10/16
...Rendering of 50 Hudson Yards (credit: New York YIMBY) BlackRock is in talks with Related Companies to move its headquarters...

11/08/16
Developer Tishman Speyer spent $78 million earlier this year to obtain air rights from the state and the city for its Hudson Yards project the...

10/25/16
Ziel Feldman’s HFZ Capital Group is in advanced discussions to line up about $1.2 billion in construction financing for its Chelsea mixed-use megaproject known as...

10/21/16
...Current reader favorites: 1. SL Green sells 49% stake in Stonehenge 57 to BlackRock 2. United American Land buys Soho site for $28M 3. NYC’s...

10/20/16
With millions of square feet in new office space being built at Hudson Yards and the World Trade Center complex, some market observers are warning...

10/19/16
...its 261-unit rental building on Sutton Place, to asset manager BlackRock in a deal that values the 19-story property at $170 million...

10/17/16
WeWork, the co-working golden child seen by some as the future of real estate, has taken a beating of late — critics have loudly questioned...

10/10/16
Last month, Tishman Speyer filed plans for the Spiral, a 2.2 million-square-foot office tower planned for Hudson Yards. The skyscraper’s name is a reference to...

09/29/16
Everything is spiraling into place for Tishman Speyer. The developer officially filed plans Thursday for the Spiral, an office skyscraper that is slated to cost $3.2...

09/28/16
...rendering of the Spiral and 50 Hudson Yards (Inset: Larry Fink) BlackRock has set its sights on Hudson Yards for a new...

09/01/16
On the heels of a $75 million cash infusion that values Compass at north of $1 billion, it’s getting harder for the startup brokerage to...

08/24/16
After four months of negotiating to buy a 44 percent stake in 10 Hudson Yards, a twist of fate kept Christoph Donner stranded in Los...

08/24/16
...Most of that money has been distributed to investors like BlackRock and AIG, but around $600 million has yet to be spent...
To see all, go to Advanced Search
BlackRock, Chairman, Global Real Estate Business
55 East 52nd Street, New York, NY, 212-810-5300
Jack Chandler is chairman of the global real estate business at BlackRock, the...
BlackRock, Chairman and CEO
55 East 52nd Street, New York, NY, 212-810-5300
Laurence Fink is chairman and chief executive officer of BlackRock Inc., the worlds...
BlackRock, Vice President, Real Estate Acquisitions
55 East 52nd Street, New York, NY, 212-810-5300
Chris Lackett is vice president for real estate acquisitions at BlackRock, the worlds...
BlackRock, Vice President
55 East 52nd Street, New York, NY, 212-810-5300
Eloisa Kasper is a vice president at BlackRock, where she has held various...
BlackRock, Director of Global Data Center Operations and Construction Manager
55 East 52nd Street, New York, NY, 212-810-5300
Joshua Vallario is director of global data center operations and construction manager at...
BlackRock, Director, BlackRock Alternative Solutions
55 East 52nd Street, New York, NY, 212-810-5300
Arnab Mazumdar is a director at BlackRock Alternative Solutions, where he designs and...
BlackRock, Business Manager, COO Team
55 East 52nd Street, New York, NY, 212-810-5300
Joseph T. Kang is a business manager in BlackRock Real Estates COO team...
BlackRock, Managing Director
55 East 52nd Street, New York, NY, 212-810-5300
Ted Stratigos is a managing director at BlackRock, where he leads the platform...
BlackRock, Managing Director, Global Head of AUM Reporting
55 East 52nd Street, New York, NY, 212-810-5300
Avi Masry is a managing director and global head of AUM reporting at...
BlackRock, Managing Director
55 East 52nd Street, New York, NY, 212-810-5300
Don Benningfield is a managing director of real estate at BlackRock, the worlds...
  • Event Office Leasing
  • Address 50 Hudson Yards
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 850,000
  • Publication Date 01/01/2017
  • Event Date 11/17/2016
  • Party 1 Related Companies, Oxford Properties Group
  • Party 1 Brokerage Related Companies, Oxford Properties Group
  • Party 1 Broker Stephen Winter 
  • Party 2 BlackRock
  • Party 2 Brokerage JLL
  • Party 2 Broker Peter Riguardi, Kenneth Siegel, Matthew Astrachan, Joseph Messina
notes
The private equity firm signed a lease.
  • Event Sales
  • Address 400 East 57th Street
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 45,800
  • Price $ 170,000,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 SL Green Realty
  • Party 1 Brokerage HFF
  • Party 1 Broker Andrew Scandalios, Rob Hinckley
  • Party 2 BlackRock
notes
A 49% interest sold in a transaction valued at $170 million for the mix-use building.
  • Event Office Leasing
  • Address 55 East 52nd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 31,000
notes
[EMPTY]
  • Event Sales
  • Address 428 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 47,300
  • Price $ 65,000,000
  • Price per foot $ 1,374.21
notes
The property sold for $65 million. The building, which has 9,460 square feet of retail space, is 100 percent occupied by office and retail tenants.
  • Event Office Leasing
  • Address 1039 Third Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 600
  • Price per foot $ 200.00
notes
The jeweler signed a 10-year lease.
  • Event Retail Leasing
  • Address 1144 Third Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 2,200
notes
The fashion retailer signed a lease. The reported asking rent was $225 per square foot.
  • Event Office Leasing
  • Address 600 Third Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 4,139
  • Publication Date 02/01/2009
  • Event Date 12/23/2008
  • Party 1 Blackrock
  • Party 2 JFE Steel America
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Barrett Stern
notes
The dealer of steel materials signed a lease.
  • Event Office Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,388
notes
The film production company leased space.
  • Event Retail Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,000
notes
The apparel retailer signed a lease.
  • Event Financing
  • Address 545 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Publication Date 03/01/2008
  • Event Date 01/21/2008
  • Party 1 LCOR, Blackrock
  • Party 2 KeyBank
notes
A $60.7 million construction loan and an $11 million line of credit were provided for an office redevelopment project. The new building is expected to gain a LEED Gold rating and is scheduled for completion in mid-2008. 17-story office building.
  • Event Office Leasing
  • Building Name Park Avenue Plaza
  • Address 55 East 52nd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 150,000
notes
Blackrock subleased the space from the Dutch financial firm.
  • Event Sales
  • Address 545 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 140,000
notes
A 75-year ground lease was structured for the vacant building. LCOR and its partners intend to undertake a gut renovation of the property, with construction expected to begin in early 2007. Occupancy is slated for spring 2008. Price n/a.
  • Event Sales
  • Building Name The Wellington
  • Address 200 East 62nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 173,000,000
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Nagel Family
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, William Shanahan
  • Party 2 CalPERS, Blackrock
notes
The pension fund is reported to have acquired the property for a total of $173 million ($28 million plus $145 million for the assignment of the lease), or $1.5 million per unit.
  • Event Sales
  • Building Name The Westminster
  • Address 165 East 66th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 154,000,000
  • Publication Date 09/01/2006
  • Event Date 07/23/2006
  • Party 1 Nagel family
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, William Shanahan
  • Party 2 CalPERS, Blackrock
notes
The pension fund is said to have acquired the property for a total of $154 million ($30 million plus $124 million for the assignment of the lease), or $1 million per unit.
  • Event Sales
  • Address 30 Park Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 97,000,000
  • Publication Date 11/01/2005
  • Event Date 09/22/2005
  • Party 1 Rudin family
  • Party 1 Brokerage Eastdil Secured
  • Party 1 Broker Douglas Harmon
  • Party 2 Blackrock, CalPERS
notes
The 236,000-square-foot Emory Roth & Sons-designed building sold for $97 million. About 70 percent of the units are rent-stabilized. Condo conversion is likely.
Queens, 11375
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Manhattan, 10027
NEW YORK APARTMENT PO
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Manhattan, 10033
NEW YORK APARTMENT PO
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Manhattan, 10022
NEW YORK APARTMENT PO
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Manhattan, 10033
NEW YORK APARTMENT PO
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Manhattan, 10021
NEW YORK APARTMENT PO
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Manhattan, 10011
56 7TH AVENUE LLC
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Manhattan, 10024
NEW YORK APARTMENT PO
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Landing a monster office tenant is getting harder these days. Most of the big companies hunting for space committed in the last few years, fueled...

01/05/16
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12/31/15
New York City has, for quite some time, been the world’s most dynamic and high-stakes real estate market. But 2015 pushed all the elements that...

The market for big packages of multifamily buildings may have less sex appeal than the fancy condos adorning Billionaire’s Row, but the sector is going...

Over the past two years, companies like SL Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted their purchases of distressed properties in...
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