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Rockpoint and Fisher Pay Nearly $1B For Stakes In Two Office Buildings

NEW YORK CITY-The companies picked up approximately half of the interest in Midtown West and East properties where Fisher already owns the remaining portion.

By Rayna Katz | Updated on January 07, 2014

NEW YORK CITY-Affiliates of Rockpoint Group and Fisher Brothers together have acquired an approximately 50% interest in 1345 Ave. of the Americas and 605 Third Ave. The seller was National Bulk Carriers, a real estate investment company, based here, that originally was owned by the late Daniel Ludwig. 

Terms of the transaction were not disclosed, but industry sources report that the joint venture paid $1.4 billion, or approximately $728 per square foot, for the portion of 1345 6th Ave. that it bought in this latest deal; and $843 million, or approximately $884 per square foot, for 605 Third Ave. Representatives of Rockpoint and Fisher declined to comment.

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