Brookfield Property Partners is looking to sell its 2.3 million-square-foot office tower at One Liberty Plaza in Lower Manhattan, which could trade for as much as $1.6 billion.
Brookfield hired Cushman & Wakefield to market the tower, which is 94 percent leased, according to Real Estate Alert. At the $1.6 billion price tag, the listing works out to $695 per square foot. Brookfield is open to selling the entire tower or a partial stake, REA reported.
The Financial Industry Regulatory Authority is the second-largest tenant with 225,000 square feet running through 2021.
Brookfield’s seen a lot of leasing activity at the property as of late, with the New York City Economic Development Corp. recently taking 220,000 square feet, a signing first reported by The Real Deal in June.
Cosmetics company New Avon, insurance giant Aon and media company Business Insider have all inked deals in the building this year.
Convene, the common-spaces manager that raised $68 million earlier this year in a Series C funding round led by Brookfield, is rumored to be in talks to lease retail space at the base of the tower for a conference facility that would be marketed as an amenity for tenants, according to REA.
In August, Brookfield refinanced the tower with an $850 million loan from Morgan Stanley. The tower is part of the Olympia & York portfolio Brookfield acquired out of bankruptcy in 1996.
Other properties in the portfolio include 245 Park Avenue, which HNA Group purchased in May for $2.21 billion, and the complex known today as Brookfield Place. The owner tapped Eastdil Secured last year to market a 49 percent stake that would value the 8 million-square-foot complex at $5 billion. [REA] – Rich Bockmann
(To view more of Brookfield Property Partners’ office leasing transactions, click here)