Downtown’s One New York Plaza is Up for Sale

The 50-story, 2.7 million-square-foot One New York Plaza tower overlooking New York Harbor is being offered for sale by Brookfield Asset Management and China Investment Corp. Located in the Financial District, the full-block building bound by Water and South Streets between Whitehall and Broad Streets is 93% leased, with larger tenants including Morgan Stanley and law firm Fried Frank. Since Hurricane Sandy in 2012, more than $230 million has been invested into the property; and in 2016 the 49% stake and 16% stake sold to the Chinese sovereign wealth fund and Boston-based AEW Capital Management respectively valued the property at $1.4 billion.