Tishman Speyer, the American real estate giant, has agreed to sell a skyscraper in Manhattan for $1.8 bn (EUR 1.3 bn) to New Jersey-based Kushner Companies. This is one of the one of the highest prices ever paid for a single US office building.
Tishman Speyer, the American real estate giant, has agreed to sell a skyscraper in Manhattan for $1.8 bn (EUR 1.3 bn) to New Jersey-based Kushner Companies. This is one of the one of the highest prices ever paid for a single US office building.
The 41-storey office building - 666 Fifth Avenue - is being sold for more than three times what Tishman Speyer and its partners paid for it in 2000, a source close to the deal told the Wall Street Journal's real estate section.
The largest US real estate deal on record is Tishman Speyer's $5.4 bn purchase of a massive residential complex in New York earlier this year in partnership with a unit of money manager BlackRock. The second largest transaction was Tishman Speyer's purchase of Rockefeller Center in December 2000 for $1.85 bn.
