BlackRock | The Real Deal New York

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 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.


06/09/17
...fact that Manhattan’s largest new lease of 2017 – BlackRock’s 847,000-square-foot deal at 50 Hudson Yards – closed during the month. Other big deals in...

06/07/17
...leased. The month’s volume was driven by BlackRock’s 850,000-square-foot lease at 50 Hudson Yards. Read the full report here...

05/31/17
...L&L Holding) A partnership led by BlackRock is gauging buyer interest in its office building at 600 Third Avenue. BlackRock has a...

05/26/17
A $1.25 billion lease, a $1 million prize from Zillow and 1,700 Section 8 apartments. In real estate, it’s all about the numbers. This past week, The...

05/25/17
...of 50 Hudson Yards (Credit: Related, Click to enlarge) BlackRock will pay $1.25 billion over 20 years for its 847,000-square-foot lease at Related Companies and Oxford...

05/11/17
...project is still considered speculative. As of now, BlackRock is the property’s only committed tenant, having agreed to lease 850,000 square feet across...

05/09/17
...in 2015. A consortium of lenders including JPMorgan Chase, BlackRock and SL Green Realty provided $1 billion in acquisition and predevelopment financing at the time...

03/30/17
...investment fund industry works. Firms like Vanguard or BlackRock run enormous index funds, or funds that track the performance of a certain stock...

03/28/17
...And next door at 50 Hudson Yards, asset manager BlackRock last year signed a letter of intent to take 850,000 square feet, while Morgan Stanley...

02/13/17
...it in the Hudson (Yards): KKR. Wells Fargo. BlackRock. Steve Cohen’s Point 72.  And now perhaps Morgan Stanley. In less than two years...

02/10/17
...feet at 50 Hudson Yards, the 2.9 million-square-foot tower where BlackRock is planning to move its headquarters. Talks are still in the early stages, and...

02/01/17
...CREFC), whose members include giant asset managers like BlackRock and New York developers like Fisher Brothers, noted that 55 percent of respondents at the...

02/01/17
...Hudson Yards – the developer just landed money manager BlackRock as an anchor tenant to its fourth and final office tower there – but there...

01/25/17
...the Far West Side. In December, asset manager BlackRock signed a deal to move from its 52nd Street home to Related Companies and...

01/19/17
...the growing office market in Hudson Yards, where BlackRock, Time Warner and others are or will be headquartered. The two-phase project is a...

01/10/17
...construction loan for the 62-story building. Last month, BlackRock inked a preliminary agreement to take 850,000 square feet at the tower over 20 years. The...

01/09/17
...market for a construction loan of over $2.5 billion. BlackRock is set to be the anchor tenant at 50 Hudson, committing to 850,000 square feet over...

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

01/04/17
...nd Street. That building is also home to BlackRock, until it moves to 50 Hudson Yards in the coming years. Swiss Re will be...

01/03/17
...last month will be anchored by financial firm BlackRock. The developer announced in December that the asset manager had signed a letter of...

01/03/17
...proposed and perhaps the fiercest rivals. Financial giant BlackRock negotiated with both Related and Tishman for space in their respective towers, seeking new...

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
...million in August 2015. Earlier this month, asset manager BlackRock inked a preliminary agreement to lease 850,000 square feet at the building for 20 years.  Related...

12/12/16
...Private equity giant KKR, Wells Fargo Securities and BlackRock have already committed to moving to Hudson Yards. Industry insiders said that at least...

12/09/16
...a blockbuster deal Related negotiated with money manager BlackRock to lease 850,000 square feet at the Norman Foster-designed 50 Hudson Yards, the fourth and final...
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, Vice President, Real Assets
55 East 52nd Street, New York, NY, 212-810-5300
Joseph T. Kang, Vice President, is the Product Strategist for the Global Real...
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
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
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
  • 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 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,392
  • Price per foot $ 55.00
notes
The executive search firm signed a five-year, three-month lease.
  • 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 Sales
  • Address 10 West 74th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 38,000,000
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 BlackRock Diamond Property Fund
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom
  • Party 2 West 74 LLC
notes
The property sold for $38 million. The seller originally acquired the building in 2006 for $45 million.
  • 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 Retail Leasing
  • Address 142 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Publication Date 06/01/2008
  • Event Date 04/22/2008
  • Party 1 L&L Holding, Blackrock Realty
  • Party 1 Brokerage CBRE
  • Party 1 Broker Michael Blum
  • Party 2 Milos, Estiatorio
notes
The tenant signed a lease to open a takeout branch of its seafood restaurant.
  • 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 Sales
  • Address 530 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 180,000
  • Price $ 211,000,000
  • Price per foot $ 1,172.22
  • Publication Date 08/01/2007
  • Event Date 06/22/2007
  • Party 1 Katz Family
  • Party 2 Blackrock Realty Advisors
notes
The 139-unit rental building sold for $211 million, or $1.51 million per rental unit, in one of the most expensive per-unit sales to date. The per-square-foot price was $1,192.
  • 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.
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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...

10/10/16
...in 2014 for $438 million. In September, Crain's reported that Blackrock was scoping out the building for a possible new headquarters as well as 50 Hudson...

...is looking for at least 600,000 square feet, and BlackRock , which is seeking at least 500,000 square feet, according to  industry data. The technology, advertising...

...global bank Deutsche Bank and private equity firm BlackRock, according to published reports and interviews with brokers. By comparison, back in 2012, there were...

01/05/16
...a personal passion for art.” Many others, including BlackRock’s CEO Larry Fink, believe that art and real estate are where all the...

12/31/15
...the hegemony of Blackstone In 2006, Tishman Speyer and BlackRock made a $5.4 billion deal for Stuyvesant Town-Peter Cooper Village that became the poster child...

...precarious state since Tishman Speyer and its partner, BlackRock, defaulted on $4.4 billion of debt in 2010. Last year, CWCapital, which took control of the...

...home funding company, Fannie Mae; and investment firm BlackRock Realty. Rainbow, headed by Brooklyn investors Irving Langer and Leibel Lederman, also closed on...
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