UBS Sells 299 Park Avenue
Through Darcy Stacom and Bill Shanahan at CB Richard Ellis, the marketing dragged through the latter half of 2009, as potential buyers diminished and UBS stuck to its pricing.
The nation’s ongoing financing issues restrained a quicker conclusion, as did a right of first refusal by Fisher Bros., the operating partner that eventually brought Rockpoint to the table.
“UBS was able to monetize its investment, Fisher likes the partner and Rockpoint gets a good asset and return,” said a source. Sources also said that Rockpoint’s return will be greater than 6%, and there is a growing war chest for capital improvements after UBS exits. “This is a signal that the market is continuing to strengthen and-dare I say it? -recover,” said Woody Heller of Studley, who wasn’t involved in the deal. “To see Rockpoint come forward into the transaction is an affirmation that there is investor confidence in a new pricing paradigm.”
On the other hand, the multi-property HSBC headquarters at 492 Fifth Ave. near Bryant Park was sold for $380 a foot. The whole space is going to be leased b ack to HSBC for one year, and then the company intends to occupy about two-thirds of it for nine more years.
Via: NY Post
Related Articles
Isabel Antonia Peschel Redefines the Visual Language of Global Fashion and New York Nightlife**
Discover how Isabel Antonia Peschel blends fashion, art direction, and digital storytelling from Berlin to New York City.
VIVIFY Technology and the Return of Industrial Grandeur: Energy Independence as the New Luxury Frontier
Explore how VIVIFY Technology is reshaping luxury infrastructure with modular hydrogen energy and off grid power solutions.
The Feel-Good Formula for Summer
Discover easy summer wellness habits, from fitness and skincare to nutrition and style, for a healthier, more enjoyable season.
STAND: A New Japanese Café From the Team Behind SHINGO
Miami’s most celebrated omakase restaurant just made way to a more accessible sibling. The team behind Michelin-starred SHINGO has opened STAND, a Japanese café on Miracle Mile in Coral Gables, on Thursday, June 4, and shaped up to be one of the city’s most anticipated daytime openings of the year. Photo Credit: Salar Abduaziz From […]
Niño Gordo Miami: Inside Wynwood’s Most Unique Dining Experience
There is a particular kind of restaurant that does not so much open in a neighborhood as detonate inside it. Niño Gordo, the cult Buenos Aires import that landed in Wynwood in May 2025, is exactly that kind of place. It is loud, maximalist, and unapologetically theatrical, the type of restaurant where the décor alone […]
KidSuper’s Resenha Proved That Fashion, Like Fútbol, Has No Borders
There are fashion shows, and then there are events that transcend the category entirely, moments where the clothes are almost beside the point because what is happening around them is so alive, so specific, and so genuinely felt that the runway becomes a vessel for something larger. KidSuper’s Resenha, presented at Miami’s Nu Stadium during […]
Latest Stories
Trending Articles
Related Articles
Isabel Antonia Peschel Redefines the Visual Language of Global Fashion and New York Nightlife**
Discover how Isabel Antonia Peschel blends fashion, art direction, and digital storytelling from Berlin to New York City.
VIVIFY Technology and the Return of Industrial Grandeur: Energy Independence as the New Luxury Frontier
Explore how VIVIFY Technology is reshaping luxury infrastructure with modular hydrogen energy and off grid power solutions.
The Feel-Good Formula for Summer
Discover easy summer wellness habits, from fitness and skincare to nutrition and style, for a healthier, more enjoyable season.
STAND: A New Japanese Café From the Team Behind SHINGO
Miami’s most celebrated omakase restaurant just made way to a more accessible sibling. The team behind Michelin-starred SHINGO has opened STAND, a Japanese café on Miracle Mile in Coral Gables, on Thursday, June 4, and shaped up to be one of the city’s most anticipated daytime openings of the year. Photo Credit: Salar Abduaziz From […]
Niño Gordo Miami: Inside Wynwood’s Most Unique Dining Experience
There is a particular kind of restaurant that does not so much open in a neighborhood as detonate inside it. Niño Gordo, the cult Buenos Aires import that landed in Wynwood in May 2025, is exactly that kind of place. It is loud, maximalist, and unapologetically theatrical, the type of restaurant where the décor alone […]
KidSuper’s Resenha Proved That Fashion, Like Fútbol, Has No Borders
There are fashion shows, and then there are events that transcend the category entirely, moments where the clothes are almost beside the point because what is happening around them is so alive, so specific, and so genuinely felt that the runway becomes a vessel for something larger. KidSuper’s Resenha, presented at Miami’s Nu Stadium during […]
Subscribe to Haute Living
Receive Our Magazine Directly at Your Doorstep
Embark on a journey of luxury and elegance with Haute Living magazine. Subscribe now and have every issue conveniently delivered to your home. Experience the pinnacle of lifestyle, culture, and sophistication through our pages.
Haute Black Membership
Your Gateway to Extraordinary Experiences
Join Haute Black and unlock access to the world's most prestigious luxury events