Blackstone Group buys stake in Lower Manhattan office for $1.55b
The Blackstone Group to buy a 49-percent stake in One Liberty Plaza in Lower Manhattan from Brookfield Property Partners for $1.55 billion, according to media outlets.
With a price tag of $660 per square foot, the deal is the most expensive downtown office sales ever recorded, the New York Post reported.
One Liberty Plaza totals 2.3 million square feet, spanning up 54 stories. Tenants include cosmetics company New Avon, insurance giant Aon and media company Business Insider.
Blackstone is also an owner in Stuyvesant Town-Peter Cooper Village.
The high price deal follows Allianz Real Estate’s acquisition of a 43 percent stake in 1515 Broadway in Manhattan’s Times Square from SL Green Realty Corp.
