An affiliate of China Orient Asset Management has acquired a 49 percent interest in the Financial District building 61 Broadway from RXR Realty. The purchase price for the 33 story, 787,000 sqf office building was based on a gross valuation of $440 million. Tenants at the property, located at Broadway and Exchange Place, include architectural firm Bjarke Ingels Group, securities firm Samuel A. Ramirez & Co., and the think tank Human Condition Global, which took a full floor of more than 24,400 sqf. RXR bought the 100 year old building in March of 2014.
āRXR is one of the best-in-class owners and operators of Manhattan office buildings and we are pleased to acquire an interest in 61 Broadway and partner with them. This investment is consistent with our U.S. real estate investment strategy, which has been to acquire value add assets in partnership with sophisticated and institutional U.S. operators,ā said Roy Chen, Managing Director and Head of U.S. Real Estate of China Orient.
