Blackstone is in advanced talks to acquire a 49% stake in One Manhattan West, a 2.1-million-square-foot building that delivered in 2019 and is now more than 90% leased, according to the Wall Street Journal, which cited people familiar with the matter. These talks with owners Brookfield Asset Management and Qatar Investment Authority were also reported by Bloomberg earlier this month.
The deal could value the skyscraper at $2.85 billion.
Brookfield Asset Management was soliciting interest from a number of potential bidders, according to one of the sources with whom Bloomberg spoke. Other sources told the publication that Cushman & Wakefield is the brokerage advising Brookfield.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
