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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 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.


Medical marijuana dispensary to open second Manhattan outpost
11/20/18
...former chief investment officer of fundamental equities at BlackRock, launched a $250 million opportunity fund to draw investors and find property in Los Angeles...

Home Partners of America mulls IPO
11/09/18
...could start offering shares in 2019. The KKR and BlackRock...

VEREIT pays $43M in latest round of
legal settlements
10/29/18
...eight class-action lawsuits filed by investors such as Blackrock and Clearline Capital Partners. The lawsuits were filed after the firm submitted a doctored...

Who is Tejon Ranch? A NY-backed firm plots massive communities in California
10/18/18
...Group, Third Avenue Management, Royce & Associates and Blackrock hold the most shares, respectively. It wasn’t until two decades ago that Tejon...

VEREIT pays $85M to settle accounting scandal class-action suits
10/02/18
...funds and insurance firms, including entities tied to BlackRock, Clearline Capital Partners and Reliance Standard Life Insurance Company. VEREIT, then named American Realty...

Realogy launching rapid all-cash offers
09/26/18
...America, which is backed by firms such as BlackRock and KKR. After the seller provides basic information about a property, cataLIST will come...

Fisher Brothers secures huge advisory firm lease at Park Avenue Plaza
09/17/18
...leaving the 1.2 million-square-foot building at 55 East 52nd Street. BlackRock is relocating from the tower to Hudson Yards, where it inked a deal for...

Behind the complicated financing of
One Vanderbilt
08/22/18
...tenant when it inked a 20-year lease with BlackRock for 850,000 square feet, One Vanderbilt doesn’t have either of those advantages. Though TD...

Joe Moinian is shaking up his strategy at Hudson Yards
08/13/18
...Warner, the National Hockey League and mega-asset manager BlackRock have all inked leases in the area. Despite the breakneck pace of leasing activity...

For family dynasties: Adapt or die
08/06/18
...Rockefeller Center — partnered with the asset management firm BlackRock to buy the massive housing complex Stuy Town on Manhattan’s East Side for...

Convene now valued at more than $500M
07/10/18
...include the Durst Organization, Brookfield Property Partners and BlackRock. ArrowMark Partners led the round. Convene, which was founded in 2009, will use this latest...

REITs elect record number of women to their boards: report
06/26/18
...the Wall Street Journal. Certain institutional investors, including BlackRock and State Street Global Advisors have publicly said they would vote against corporate boards...

Financial firm Evercore near deal to grow by 170K sf at Park Avenue Plaza
06/20/18
...Brothers’ skyscraper, and shift over to 1301 Sixth Avenue.  BlackRock, another key tenant in the building with 500,000-square-feet, is set to move into 50 Hudson...

BlackRock CEO sells UES co-op for $12M
06/11/18
...Larry Fink and 21 East 79th Street (Credit: Getty) BlackRock CEO Larry Fink sold his apartment at 21 East 79th Street to an art gallery...

These were the 10 largest Manhattan real estate loans in April
06/01/18
...-story building include Cantor Fitzgerald and Estee Lauder. 9) BlackRock and roll – $175 million BlackRock Real Estate Assets and partner L&L Holding refinanced...

If the market crashes again, who will be holding the bag?
05/25/18
...s major foreign bondholders included mega asset manager BlackRock, JPMorgan Chase & Co., Fidelity Investment, and ING Investment Management. But dollar-based bond sales...

Tracking Wall Street’s eventual migration to Hudson Yards
05/15/18
...the largest industry at 30 percent.  KKR & Co., BlackRock Inc., Point72 and Wells Fargo all plan to move to the West Side complex...

Ranking NYC’s top office leasing brokerages
04/30/18
...its part, JLL made news when it represented BlackRock in a monster 847,000-square-foot lease at 50 Hudson Yards. The firm was given credit for...

The year of the
Manhattan mega lease
...its part, JLL made news when it represented BlackRock in a monster 847,000-square-foot lease at 50 Hudson Yards. The firm was given credit for...

Related’s retail guru vs. the market
03/30/18
...to blue-chip companies including Coach, L’Oréal, BlackRock, Kohlberg Kravis Roberts and Wells Fargo Securities. While the traffic from those companies and...

Here’s how much Blackstone’s heir apparent Jonathan Gray made last year
03/04/18
...For a point of comparison, Schwarzman's long-time rival BlackRock...

How is Himmel shaping Hudson Yards?
...to blue-chip companies including Coach, L’Oréal, BlackRock, Kohlberg Kravis Roberts and Wells Fargo Securities. While the traffic from those companies and...

Paydirt: JPMorgan HQ, Anbang gets a chaperone & other industry news you need to start your week
02/26/18
...Side (think Amazon, Skadden Arps, KKR, Wells Fargo, BlackRock) , Park Avenue last week scored a major win when JPMorgan announced it would demolish...

First Reserve moves headquarters from Greenwich to Stamford
02/22/18
...out of One Lafayette Place in Greenwich, where BlackRock is now a tenant...

Landlords may struggle to fill an influx of new office space coming to market
02/22/18
...Hudson Yards From the February issue: When BlackRock finalized a deal last year for 847,000 square feet at 50 Hudson Yards — the largest new...
Jack Chandler
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...
Laurence Fink
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...
Chris Lackett
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...
Eloisa Mascarenas
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...
Joshua Vallario
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...
Arnab Mazumdar
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...
Joseph Kang
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...
Ted Stratigos
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...
Avi Masry
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...
Don Benningfield
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...
For more info, click here
  • Event Office Leasing
  • Address 50 Hudson Yards
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 850,000
notes
The private equity firm signed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Office Leasing
  • Address 55 East 52nd Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 31,000
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,000
notes
The apparel retailer signed a lease.
For more info, click here
  • Event Office Leasing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,388
notes
The film production company leased space.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • Event Sales
  • Address 85 East End Avenue
  • Neighborhood Yorkville
  • Borough Manhattan
  • Price $ 70,000,000
  • Publication Date 12/01/2005
  • Event Date 10/22/2005
  • Party 1 Rudin family
  • Party 2 Tower Funds
notes
Part of Blackrock Advisors bought the building for more than $70 million.
For more info, click here
  • 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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Meet the architects bringing NYC’s biggest 2016 projects to life
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...

Top 10 biggest real estate projects coming to NYC
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...

Let the hunt begin!
...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...

Which office tenants are looking for the biggest blocks?
...global bank Deutsche Bank and private equity firm BlackRock, according to published reports and interviews with brokers. By comparison, back in 2012, there were...

Do brokerage alliances matter?
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...

The Real Deal’s hottest stories of 2015
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...

Multifamily mania
...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...

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