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
The Ultimate Wine Tasting Experience: Château Haut-Brion and Château Petrus Sommelier-Led Dinner At The Boston...
The Boston Wine & Food Festival invites eight wine connoisseurs to a sommelier-led dinner with Château Haut-Brion and Château Petrus at the Boston Harbor Hotel.
Dr. Saba on How to Maintain and Retain a Successful Breast Augmentation
Discover Dr. Saba Motakef’s expert insights on breast augmentation, post-op care, and long-term implant maintenance for lasting results.
Haute Cuisine + Commercial Convenience: A Culinary Exploration Of The New Delta One Lounge At BOS
The Delta One Lounge at Boston Logan International Airport (BOS) offers a three-course elevated dining experience in under one hour.
Paula Bezerra de Mello: The Visionary CEO Elevating Brazil on the Global Luxury Stage
Paula Bezerra de Mello is a luxury PR powerhouse, shaping global branding, hospitality, and innovation while elevating Brazil’s presence.
Haute Living Celebrates Vita Sidorkina & Isabela Grutman With 111SKIN, Toska Spa & House Of Dastan
Haute Living celebrates cover stars, Vita Sidorkina & Isabela Grutman, at Casadonna alongside 111SKIN, Toska Spa, and House of Dastan.
MICHELIN Guide Adds 14 New Florida Restaurants—Here’s Everything You Need To Know
The MICHELIN Guide Florida announces 14 new restaurants, highlighting top dining spots ahead of the Bib Gourmand and Star awards on April 17.
Latest Stories
Trending Articles
Related Articles
The Ultimate Wine Tasting Experience: Château Haut-Brion and Château Petrus Sommelier-Led Dinner At The Boston...
The Boston Wine & Food Festival invites eight wine connoisseurs to a sommelier-led dinner with Château Haut-Brion and Château Petrus at the Boston Harbor Hotel.
Dr. Saba on How to Maintain and Retain a Successful Breast Augmentation
Discover Dr. Saba Motakef’s expert insights on breast augmentation, post-op care, and long-term implant maintenance for lasting results.
Haute Cuisine + Commercial Convenience: A Culinary Exploration Of The New Delta One Lounge At BOS
The Delta One Lounge at Boston Logan International Airport (BOS) offers a three-course elevated dining experience in under one hour.
Paula Bezerra de Mello: The Visionary CEO Elevating Brazil on the Global Luxury Stage
Paula Bezerra de Mello is a luxury PR powerhouse, shaping global branding, hospitality, and innovation while elevating Brazil’s presence.
Haute Living Celebrates Vita Sidorkina & Isabela Grutman With 111SKIN, Toska Spa & House Of Dastan
Haute Living celebrates cover stars, Vita Sidorkina & Isabela Grutman, at Casadonna alongside 111SKIN, Toska Spa, and House of Dastan.
MICHELIN Guide Adds 14 New Florida Restaurants—Here’s Everything You Need To Know
The MICHELIN Guide Florida announces 14 new restaurants, highlighting top dining spots ahead of the Bib Gourmand and Star awards on April 17.
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