MHP Buys 850 3rd Ave From Shorenstein Properties

In an off-market transaction estimated somewhere between $460M and $465M, MHP Real Estate Services has purchased 850 3rd Ave from Shorenstein Properties.

The deal comes a year after Shorenstein put the 21-story office tower on the market and took it off again, according to the Commercial Observer. Blackstone Group is one of the potential lenders and no brokers were involved in the transaction.

Located between East 51st and East 52nd streets, the 614k SF building was designed by Emery Roth and currently houses Discovery Communications, Radio One and Shearman & Sterling.

Shorenstein has owned the property, which it purchased as part of a package for $930M along with 65 East 55th St and Park Avenue Tower, since 2008. [CO]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Fed Raises Benchmark Rate, Intensifying Borrowing Cost Blues

Google Delays Thompson Center Opening To 2028, Releases New Renderings

Stockdale Hires Fortress Exec To Launch Debt Business

Where Capital Meets Opportunity: Navigating The Next Wave Of CRE Financing At Bisnow’s Event On Sept. 30

Discussing Strategic Capital Stack Structuring At Bisnow's Sept. 30 National Finance Event

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

DivcoWest Sells Glendale Office Building For $70M

Energy Company Opens 125K SF Newton Office: The Boston Deal Sheet

Bally's Lines Up $560M Loan For Bronx Casino: The N.Y. Deal Sheet

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

California Investor Scoops Up Amazon Warehouse: The Chicago Deal Sheet