A joint venture of Blackstone Group and RXR is in contract to sell 1330 Avenue of the Americas to Empire Capital Holdings for $325M, with the deal expected to close by the end of the year. Eastdil Secured brokered the deal.
The reported sale price represents a steep decline in value for the 40-story Rockefeller Center tower, which in 2006 traded for nearly $500M.
Blackstone became the majority owner of the tower on W. 53rd and Sixth Avenue in NYC, formerly known as the Financial Times Building, when it bought a stake in a six-building RXR portfolio in 2015. The deal includes a $285M debt on a loan from DekaBank that was acquired in a 2018 refinancing.
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