News
MHP Buys 850 3rd Ave From Shorenstein Properties
January 13, 2016
In an off-market transaction estimated somewhere between $460M and $465M, MHP Real Estate Services has purchased 850 3rd Ave from Shorenstein Properties.
The deal comes a year after Shorenstein put the 21-story office tower on the market and took it off again, according to the Commercial Observer. Blackstone Group is one of the potential lenders and no brokers were involved in the transaction.
Located between East 51st and East 52nd streets, the 614k SF building was designed by Emery Roth and currently houses Discovery Communications, Radio One and Shearman & Sterling.
Shorenstein has owned the property, which it purchased as part of a package for $930M along with 65 East 55th St and Park Avenue Tower, since 2008. [CO]
