Deals
NYC Tower Said to Get $1.4 Billion Bids in Year’s Biggest Sale
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A midtown Manhattan office tower majority owned by Carlyle Group LP is attracting bids of as much as $1.4 billion in what may be the biggest U.S. real estate deal since 2010, two people familiar with the sale process said.
Final offers are due today for 650 Madison Ave., a 27-story building in the heart of Midtown’s upscale shopping district. Bidders include a venture of General Growth Properties Inc. and Brookfield Office Properties Inc.; Vornado Realty Trust; HFZ Capital Group, a New York-based condominium and hotel owner; and Crown Acquisitions LLC, a retail and office landlord, said the people, who asked not to be named because the details of the transaction are private.