Harbor Group International through the entity 51 W. Owner, Lp paid $760 million to CBS Broadcasting for the office building (O4) known as Black Rock at 51 West 52nd Street in Midtown, Manhattan. This sale was previously reported in August 2021 following an article in Variety.
The deal closed on October 13, 2021 and was recorded on October 26, 2021.
The property has 817,095 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $930 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for CBS Broadcasting was Ellen Albert. The signatory for Harbor Group International was T. Richard Litton Jr.
When reported in pre-pandemic early 2020, the price was expected to be about $1 billion, with CBRE identified as the broker. CBS merged with Viacom in late 2019 in a $25 billion deal. The contract date was August 13, 2021. CBRE’s Darcy Stacom and Bill Shanahan were the brokers representing CBS.
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