Rockpoint Group Acquires Office Building At 885 Second Avenue In Midtown East For $575M

Rockpoint Group has acquired an office property located at 885 Second Avenue in Midtown East from Ruben Companies. The sale was facilitated by Adam Spies, Doug Harmon, Kevin Donner, Michael Collins, and Willis Robbins of CushWake. The property, which is part of One Dag Hammarskjold Plaza, spans a total area of 814,638 square feet and was sold for a price of $575,000,000, translating to a price per square foot of $705.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $575,000,000
• Square Footage: 814,638
• Address: 885 Second Avenue (One Dag Hammarskjold Plaza)
• Market: Midtown East

The loan for the acquisition was provided by Wells Fargo and Brookfield. Gideon Gil and Steve Kohn, also from CushWake, represented Rockpoint Group in securing the loan. This transaction represents a significant investment in the Midtown East market and demonstrates the strong demand for office properties in the area.