The acquisition marks the second major Manhattan purchase for the REIT. Two years ago, the group spent $218 million for 120 Broadway, a 42-story, 1,843,000-sf office tower built in 1958.
Negotiations for the Merrill Lynch building, located at 717 Fifth Ave., have been ongoing "loosely for about two months," a spokesperson for building agent and manager Shorenstein Realty Services tells GlobeSt.com. That company will be retained under the 26-story Midtown asset's new ownership.
Some 300 Merrill Lynch financial advisory services employees occupy four floors in the 435,054-sf property, which is currently 99% leased.
Walton Street did not return phone calls regarding this story.
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