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10 Bryant Park seeks buyers at more than $800M
The 865,000-square-foot Midtown office tower is marketed at a price above $800 million after recent tenant deals, including a $165 per square foot expansion by Baker McKenzie.
An 865,000-square-foot office tower at 10 Bryant Park, also known as the HSBC Tower, is looking for a new owner with a asking price of more than $800 million, according to Commercial Observer.
The landlord, Tel Aviv-based Property & Building Corporation (PBC), has tapped Newmark to represent it in the sale process. Newmark partner Adam Spies declined to comment on the reported plan.
Commercial Observer notes that the 30-story tower at 452 Fifth Avenue sits in an especially in-demand Midtown submarket. Amazon signed a 330,000-square-foot lease there in April of last year, and Life Time leased 52,000 square feet across four floors in the months before.
PBC recently secured a deal with law firm Baker McKenzie at $165 per square foot to expand its office footprint to 121,833 square feet, Commercial Observer reported. The circa-1980s building was renovated, including a new lobby, and PBC acquired it in 2010 for $330 million after HSBC Bank USA previously leased space there until relocating in 2022 to Tishman Speyer’s Spiral in Hudson Yards.