Private equity firm Blackstone Group (BX) is selling its 42-story skyscraper at 1095 Avenue of the Americas in New York City for big bucks. In fact, the sale could be one of the highest ever for a U.S. Building.
The price tag for the 1.2 million-square-foot property is expected to come in at about $2.25 billion, according to an anonymous source cited by Bloomberg. The building is currently occupied by MetLife and Verizon.
Blackstone bought the building, which is also known as 3 Bryant Park, in 2007 as part its $39 billion acquisition of Sam Zell’s Equity Office Properties Trust.
Despite the enormous price tag for the skyscraper, it isn’t the most valuable in the U.S. In fact, New York’s General Motors (GM) Building has a valuation of about $3.4 billion, according to Bloomberg, based on a deal in which a 40% stake in the building was purchased for $1.4 billion by the families of the Chinese real estate developer Zhang Xin and Brazil’s Safra banking empire.
Should the sale of 1095 Avenue of the Americas exceed $2 billion, it’ll be the largest price tag for a U.S. Property since 2008 when New York’s GM building sold to Boston Properties for that amount.