Upcoming Stories
New York & Tri-State CRE News In Your Inbox .

national   /   March 9, 2020

Paul Bubny
By: Paul Bubny

Brookfield, Blackstone Weigh Sale of FiDi Trophy Tower

Brookfield Property Partners and Blackstone are weighing a sale of One Liberty Plaza in Lower Manhattan’s Financial District, Crain’s New York Business reported. They’re seeking between $1.6 billion and $1.7 billion for the 2.3-million-square-foot office tower, according to sources said to be familiar with the discussions.

A sale of the property would probably rank among New York’s largest this year. Manhattan’s biggest office transaction in 2019 was Related Companies’ $2.2-billion acquisition of the WarnerMedia office condominium at 30 Hudson Yards, although the largest full-building trade—the acquisition of 711 Fifth Ave. by Shvo and Bilgili Group—came in at less than $1 billion.

Blackstone acquired a 49% stake in One Liberty Plaza from Brookfield in late 2017. The deal valued the tower at $1.5 billion, according to Real Capital Analytics. Brookfield acquired the 47-year-old property in 1996 as part of a bankruptcy sale.

Connect New York 2020 is set to take place on Tuesday, April 29 at Upper Story by Charlie Palmer. For more information, or to register, click  here.

Inside The Story
About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author

New call-to-action
New call-to-action
© ConnectCRE 2021 / 3900 San Fernando Road, Suite 1007, Glendale, CA 91204
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release /