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Rudin Takes Full Ownership at One Battery Park Plaza

NEW YORK CITY-The company acquired the remaining 50% stake in the class A downtown building from Rose Associates. Bill Rudin tells GlobeSt.com’s Jacqueline Hlavenka that deal was based on a change in Rose’s company strategy.

By Jacqueline Hlavenka | Updated on January 10, 2012

NEW YORK CITY-Call it a family affair: Rudin Management Co. has taken full ownership at One Battery Park Plaza, buying out Rose Associates’ 50% stake in the 35-story, 885,000-square-foot downtown office building in Lower Manhattan. While the price of the deal was undisclosed, the New York Post reports that the Rudin family paid $80 million for the remaining half of the tower.

Bill Rudin, co-vice chairman and CEO of Rudin Management Co., the operating arm of the Rudin Family holdings, tells GlobeSt.com that the deal was based on a change in the Rose’s company strategy. “They are focusing more on residential,” he says. “They approached us over the summer and they wanted to sell their half, and we traditionally don’t have partners. But this is a very unique relationship, and we feel very confident that this is a great asset. We think owning a building that we have built, managed and leased would be a good investment for the family.”

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