According to Crain's, the deal was contingent in part on NBCUniversal committing to a sizeable space at Worldwide Plaza,located at 825 Eighth Ave. Reports have put the network'sconsolidated space needs at more than 600,000 square feet. Instead,NBC has leased interim space at 75 Rockefeller Plaza and otherMidtown properties, and has not announced a permanent location forthe consolidated operations.


Quoting unnamed sources, Crain's says the two properties areexpected to bring a price closer to $1.2 billion. A source atEastdil Secured, which is marketing the properties for DeutscheBank, tells the company does not comment to the press.Calls to George Comfort & Sons were not returned bydeadline.


Deutsche Bank and other lenders took over control ofthe seven-property EOP portfolio in February after MackloweProperties defaulted on short-term loans. Macklowe had bought theportfolio for $7 billion in 2007.


Since then, five of the seven properties have sold, for a totalconsiderably less than Macklowe Properties paid for them. In June,Boston Properties closed on the GM building for areported $1.9 billion. The Boston-based REIT closed on 540 MadisonAve. and Two Grand Central Tower on Aug. 13, paying $705 million. Aday later, Boston Properties closed on 125 W. 55th St. for $444 million. That sameday, the Paramount Group closed on 1301 Ave. of the Americas for$1.45 billion.In September, Mitsui Fudosan acquired 527 Madison Ave. for $225million and Chicago-based Transwestern purchased 126 E. 56th St.for $160 million.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.