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New York Midtown office towers line up for sale amid renewed demand
The listings include deals seeking more than $700 million at 7 Times Square and $450 million for 6 Grand Central, while Manhattan office sales rose 42% year over year to $2.3 billion in the second quarter.
Commercial Observer reports a cluster of Midtown New York office towers came to market in a two-week stretch this July, signaling renewed interest as office activity picks up.
BXP’s ground lease at 7 Times Square is seeking north of $700 million for its slice of the 1.2 million-square-foot tower. Empire State Realty Trust’s 1359 Broadway is looking for a buyer at roughly $225 million, while 10 Bryant Park is back on the market for a second try after an $855 million deal fell through in 2022, with the current target now above $800 million.
Commercial Observer adds that L.H. Charney’s estate sold 1441 Broadway for $238 million to a partnership of 60 Guilders and Sentry Realty. In August, Tishman Speyer’s 6 Grand Central, a 770,386-square-foot trophy tower, was also reported as seeking about $450 million.
The article says China Life Insurance Group was marketing a minority stake in RXR’s Class A tower at 1285 Sixth Avenue at a level that would value the building at $1.4 billion. It also reports that ESRT’s 1359 Broadway found a buyer in Thor Equities, which agreed to pay $218 million for the 22-story tower, as office investments grew 30% to more than $11 billion in 2025, according to a JLL analysis, and institutional buyers have targeted well-leased assets in prime Midtown corridors. Manhattan office sales totaled $2.3 billion in the second quarter, up 42% versus the same period in 2025 and on par with the five-year quarterly average, according to Cushman & Wakefield.