Reported about 15 hours ago
Blackstone is in discussions to acquire a significant stake in the 50-story office building located at 1345 Avenue of the Americas in New York City from institutional investors represented by JPMorgan Asset Management. The move follows indications from Blackstone that the commercial real estate sector, particularly the office market, is beginning to stabilize after challenges exacerbated by high interest rates and shifts to remote work. Blackstone President Jonathan Gray expressed optimism about a recovery in commercial real estate as corporate giants enforce return-to-office policies, coupled with a favorable economic outlook.
Source: YAHOO