NEW YORK CITY—The Blackstone Group has signed an agreement to purchase a 49% stake in One Liberty Plaza, in a deal expected to close by the end of the year.
The New York Post first reported the transaction, noting it is the first time Brookfield Property Partners has allowed minority partnership ownership in the 2.3 million square-foot, 54-story black tower. The building is valued at over $1.5 billion, at approximately $660 per square foot, rumored by industry data. This makes it one of the priciest downtown office building sales recorded.
The Real Deal had reported in October 2017 Cushman & Wakefield's Doug Harmon and Adam Spies listed the building.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
