It was lunchtime at Casa Lever, the high-end restaurant in the iconic Lever House, and Richard Baxter was on his BlackBerry negotiating.
It was a busy year for Mr. Baxter and his colleagues at Jones Lang LaSalle. His four-man team comprised some of the city’s most prominent brokers of large-scale commercial office buildings, and as the Manhattan sales market’s post-recessionary thaw continues, Mr. Baxter estimated that the group had tallied an impressive $1.3 billion in deals this year.
Three days before Christmas, however, it wasn’t one particular skyscraper Mr. Baxter was bargaining over from his plum seat at Casa Lever. In a year-end rush, his group had loose ends to tie up, deals to close and transactions still in the works. And so, on this particular Thursday amid a bustling lunch crowd, Mr. Baxter was not negotiating with a buyer or a building owner, but rather one of his own assistants, whom he was asking to stay late to receive critical documents and to help get the team through the rest of the day.
On Tuesday, The Observer reported Tony James had bought a duplex at 834 Fifth, that godly Upper East Side edifice. Perhaps it was a present to himself for how well The Blackstone Group, which he has run for the past few years alongside Steve Schwarzman, is now doing.
The Waldorf-Astoria has lost some of its Jazz Age luster, growing rumpled and maybe even a little racist in old age. The hotel was purchased four years ago by Blackstone for $572 million, part of a $26 billion deal to buy up the Hilton chain. Now the monolithic investment outfit is prepared to spruce up the Walfdorf-Astoria, the Post reports.
According to the tab, Blackstone plans to spend “hundreds of millions of dollars” renovating the hotel, once home to mobsters Bugsy Siegel and Lucky Luciano and jazz singer Cole Porter, as well as the eponymous salad.
Ever since Bank of America bought Merrill Lynch in the woeful days of September 2008, the New York real estate world has remained riveted by speculation: Would it entirely abandon the Merrill space at Brookfield’s World Financial Center, consolidating all of its offices at the Bank of America Tower at One Bryant Park, thus leaving Read More
Last week, the Financial Times filed a somewhat embarrassing copyright infringement lawsuit against Steve Schwarzman‘s Blackstone Group for giving out one FT online subscription log-in to many of its employees. But apparently, the company’s New York office wasn’t the culprit, but rather eight renegade employees at the London office who decided to share Read More
Billionaire Steve Schwarzman‘s Blackstone Group is being sued by the Financial Times for copyright infringement and violation of the computer fraud and abuse act, reports Cityfile.
Mr. Schwarzman is worth about $6.4 billion (according to Forbes), and the Blackstone Group reported revenue of over $3 billion in fiscal year 2007. Read More
This Monday, The Observer broke the news that Donald Trump had finally sold his last three units at the monolithic Trump World Tower on First Avenue, for the tidy sum of $33.654 million. The three-unit penthouse duplex went to a limited liability corporation, according to city records, and a source said the buyer was Read More
Last month, The Post reported that Calvin Klein’s daughter Marci (who’s also a Playboy/Saturday Night Live producer) had sold her West Broadway penthouse for $9.9 million.
But there was no mention of who had bought the nine-room American Thread Building duplex. According to city records, the lucky guy is Lawrence Read More
Blackstone Group’s likely takeover of Equity Office Properties, the nation’s largest office landlord with Manhattan holdings that include 1095 Sixth Avenue and Park Avenue Tower, would be the biggest leveraged buyout in history at $36 billion.
Equity’s board approved on Sunday night the buyout by Blackstone, which includes the assumption of debt. But Equity’s Read More
A triplex penthouse that once belonged to incarcerated ImClone co-founder Sam Waksal has been sold to A.J. Agarwal, a senior managing director of the mighty Blackstone Group.
According to the deed, he paid $7 million for the 5,800-square-foot apartment, $495,000 less than the latest asking price.
Marvin and Susan Numeroff, who bought the Read More