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Macklowe’s near-record buy

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Macklowe Properties’ purchase of Worldwide Plaza at 825 Eighth Avenue for $1.73 billion on Monday is the second-highest price ever paid for an office building in U.S. history. The building was one of eight New York office properties Macklowe bought from Blackstone, which quickly unloaded many of the assets it acquired from its buyout of Equity Office Properties. The highest price paid for an office building in American history was Kushner Companies’ purchase of 666 Fifth Avenue at $1.8 billion in January. Macklowe may eclipse that record when it closes on the purchase of another Blackstone holding, 1301 Avenue of the Americas. more [NYO]
Details on how the Macklowe-Blackstone deal came about more [Post]

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