Blackstone to Sell Condo Unit of Former New York Times Building to Columbia Property Trust for $516 Million
07.24.15
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Simpson Thacher is representing affiliates of Blackstone Real Estate Partners VI L.P. in connection with the announced sale of the commercial condominium unit in the former New York Times Building, or 229 West 43rd Street, to Columbia Property Trust, Inc. (NYSE: CXP) for $516 million. The condominium interest spans a portion of the first and fourth floors and all of floors five through 16. The acquisition is expected to close within 30 days subject to customary closing conditions.
The Firm previously represented Blackstone in connection with the original acquisition of the unit in 2011.
The Simpson Thacher team includes Sas Mehrara and Danielle Jackson (Real Estate); Nancy Mehlman and Michael Badain (Tax); and Greg Grogan and Andrew Blau (ECEB). Summer Associate Natalie Marcoux also provided valuable assistance.