Rockpoint Group closed on the sale of a 49% stake in Park Avenue Plaza to an unnamed high-net-worth investor from Asia according to a Wall Street Journal article. Rockpoint's Fund III acquired a joint-control equity interest in Manhattan's Park Avenue Plaza in June 2010, with the remaining interest owned by the Fisher Brothers. The investment was acquired for approximately $570 per square foot according to the company website. The price of the sale was not disclosed and Rockpoint has yet to release a statement on the sale.
Park Avenue Plaza was designed by Skidmore, Owings & Merrill with 45 floors of Class A office space. The skyscraper features 12 corner offices per floor, column-free 45-foot interior spans, and an atrium lobby with waterfall-side café and European-style luxury retail arcades. Major tenants include BlackRock Inc., McKinsey & Co. and Swiss Re, according to the Wall Street Journal.
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