Scott Rechler’s RXR Realty is close to entering contract to buy a 39-story office tower at 1285 Sixth Avenue from AXA Financial and JP Morgan Chase for about $1.7 billion, The Real Deal has learned.
The sale, if it goes through, would be one of the largest deals of the year. The 1.61 million-square-foot tower, located between West 51st and 52nd streets, is fully occupied, with Swiss bank UBS AG serving as the 700, 000-square-foot anchor tenant.
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AXA Financial put 1285 Sixth Avenue and a 51-story property at 787 Seventh Avenue on the market in August, and is looking to net between $3.5 billion and $4 billion for the pair, sources said. Eastdil Secured’s Douglas Harmon and Adam Spies, who declined to comment, are representing the seller, an equal partnership between AXA Financial and JPMorgan.
Read the full story at The Real Deal, by Mark Maurer
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