NEW YORK CITY-Blackstone has retained CBRE to market its 26-story 717 Fifth Ave. tower for sale.
Darcy Stacom and Bill Shanahan of CBRE are working on the assignment, according to the New York Post.
The investment brokers had been recently gathering signed confidentiality agreements that would allow the property to be put on the market for sale. Jeff Sutton, the owner of the retail condominiums at 717 Fifth Ave. has passed on his right of first offer, or ROFO, according to the newspaper report. The major office tenants at the building are Merrill Lynch/Bank of America and Island Capital.
Blackstone reportedly owns 260,677 square feet of office space at the property, while Sutton owns the ground and second floors of 80,834 square feet plus the fourth floor of 23,128 square feet. See story in the New York Post.
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