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209 East 43rd Street

Updated Sep 23, 2026

SOLDOffice

Stephen A. Schwarzman Of Blackstone CPPI Rialto Capital FDIC JV Acquires Office Tower For $1,000

209 East 43rd Street & 211 East 43rd Street

$1,000

Building Size

—

Asset Type

Office

Closing

Sep 23, 2026

About this deal

AI

The property involved in this transaction is an office asset located at 209 East 43rd Street and 211 East 43rd Street in Midtown Manhattan. The sale was executed for a price of $1,000, reflecting a significant acquisition involving a foreclosure scenario. The asset in question is a 24-story office tower and the buyer has assumed roughly $80 million of associated debt in this deal.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $1,000
  • Buyer: Stephen A. Schwarzman - Blackstone, CPPI, Rialto Capital & FDIC JV
  • Market: Midtown Manhattan
  • Address: 209 East 43rd Street & 211 East 43rd Street
  • Debt Assumed: Approximately $80 million

The transaction was facilitated through a joint venture backed by Blackstone and CPPIB, indicating the collaboration of major financial entities in this deal. Stephen A. Schwarzman represents the buyer in this transaction, showcasing the involvement of prominent figures in the acquisition process.

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$1,000

Office

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Players

Blackstone
BlackstoneBuyer
CPPIB
CPPIBBuyer
Rialto Capital
Rialto CapitalLandlord
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Plummer Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15863.00%

Cash-on-Cash

-4533.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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