Brookfield Asset Management Acquires Waterside Plaza In Kips Bay For $650M

Brookfield Asset Management has acquired a 51% interest in 10, 20, 25, and 30 Waterside Plaza in Kips Bay. The mixed-use property spans approximately 1,796,815 square feet, with a price per square foot of $361. The transaction was valued at $650,000,000 and included the sale of 1,471 units at an average price of $441,876 per unit. Richard Ravitch was the seller of the property.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $650,000,000
• Address: 10, 20, 25 & 30 Waterside Plaza
• Market: Kips Bay
• Buyer: Bruce Flatt & Brian Kingston - Brookfield Asset Management
• Seller: Richard Ravitch
• Brokers: Adam Spies, Doug Harmon, Marcella Fasulo & Michael Collins - Cushman & Wakefield

The acquisition was made by Brookfield Asset Management, led by Bruce Flatt and Brian Kingston. The deal was negotiated by Adam Spies, Doug Harmon, Marcella Fasulo, and Michael Collins from Cushman & Wakefield.