The Blackstone Group has begun shopping the 38-story, 665k SF office tower at 1065 Sixth Ave.
Built in 1957 and near 3 Bryant Park—which Blackstone sold to Ivanhoé Cambridge for $2.25B last year—the property could fetch offers up to $700M, The Real Deal reports.
After their monster 2015 and dismal Q1 ‘16, the investment firm—which has $103.2B in assets under management as of June 30—has been on a selling spree.
In March, it sold 16 US hotels, including its ownership of Strategic Hotels, to Chinese insurance firm Anbang Group for $6.5B, as well as 1140 Sixth Ave’s leasehold to New York REIT for $180M.
Last month, Blackstone—headed by global head of real estate Jonathan Gray (left), president Tony James (center) and CEO Stephen Schwartzman (right)—hired Ariel Property Advisors to market some of its Caiola multifamily portfolio. [TRD]
