Boston Properties has sold Two Grand Central to an affiliate of Rockwood Capital for $401 million, Real Estate Weekly reported. Rockwood assumed the $176.6 million mortgage in the transaction.
The tower, also known as 140 East 45th Street, was owned in a joint venture between U.S. Real Estate Opportunities I L.P, a fund managed by Goldman Sachs, and Boston Properties, which had a 60 percent stake in the building, which is between 44th and 45th streets. The real estate investment trust, founded by Mortimer Zuckerman in 1970, said in an earnings call it received $125.9 million for its portion of the structure.
Last year, Boston Properties purchased the John Hancock Tower in Boston for $930 million, as The Real Deal previously reported. [REW]