Sale Offering of 1330 Avenue of the Americas Announced

The 40-story building formerly known as the Financial Times Building is up for sale, the joint venture of Blackstone Group and RXR Realty looking to fetch more than $350 million. The property is being offered unencumbered by any debt, with the remaining balance of a loan from DekaBank likely to be paid when the tower is sold. In 2006 the building traded for $498 million, ultimately being auctioned-off in 2009 following the financial crisis; and in 2010 an RXR-led investor group purchased the property for roughly $400 million, Blackstone acquiring a stake in 2015 as part of a deal to buy a roughly 50% stake in a 6-building office portfolio from RXR.