Transactions - DECEMBER 9, 2014

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Two NYC office assets under contract to sell for $1.3b

by Andrea Waitrovich

In two separate deals, two offices located six miles from each other on the island of Manhattan are under contract to be sold for $1.28 billion.

RXR Realty is in the process of becoming the owner of a 36-story office located at 32 Old Slip, known as One Financial Center. The seller is Beacon Capital Partners. The 1.13 million-square-foot office has a sales price of $675 million, or $596 per square foot.

RXR has been active in New York City. In October, RXR bought the office condo space at 530 Fifth Ave. for $300 million from Thor Equities and General Growth Properties. And the firm purchased 80 Broad St. for $173 million with its partner Broad Street Development. The seller was Savanna.

The second Manhattan office being sold this month is the 470,000-square-foot 7 Bryant Park. The sales price is rumored to be $600 million. The sellers are joint venture partners Hines, JP Morgan Asset Management and Pacolet Milliken Enterprises. The new owner is the Ba

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