Blackstone, working with Canadian global real estate company Ivanhoe Cambridge Inc., will pay about $5.3 billion for the 80-acre (32-hectare) enclave, told a person with knowledge of the agreement, to Bloomberg. That’s just under the record $5.4 billion that prior owners Tishman Speyer and BlackRock Inc. paid nine years ago before defaulting on the mortgage in 2010 and walking away from the property, marking one of the biggest collapses in the last decade’s real estate boom.

 

Read the full story at Bloomberg, by Hui-Yong Yu,  Sarah Mulholland and Oshrat Carmiel