Blackstone to buy 49% stake in FiDi office tower from Brookfield

The Blackstone Group signed a contract to buy a 49-percent stake in One Liberty Plaza from Brookfield Property Partners, valuing the FiDi tower at $1.55 billion.

With a price tag of $660 per square foot, the deal is of of the most expensive downtown office sales ever recorded, the New York Post reported. Blackstone is making the investment with its core-plus fund — the low-risk, long-term investment vehicle that also owns a stake in Stuyvesant Town-Peter Cooper Village.

Brookfield put the 2.3 million-square-foot, 54-story tower up for sale in October and also considered selling the entire building, Real Estate Alert reported at the time. Cushman & Wakefield’s Doug Harmon and Adam Spies had the listing.

It’s the first time Brookfield has brought in a minority partner at one of its Manhattan Office skyscrapers.

Media company Business Insider is moving its headquarters to the building. Cosmetics firm New Avon and insurer Aon also signed leases this year.

Brookfield refinanced the building with a $784 million Morgan Stanley mortgage in August.

After years of aggressive investments in the New York real estate market, Blackstone had a more quiet 2017 — until now. In October, the company’s president Tony James said the company still sees opportunities in U.S. real estate.  [NYP] — Konrad Putzier