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Report: New York REIT's stake in 1 Worldwide Plaza on the block

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Report: New York REIT's stake in 1 Worldwide Plaza on the block

New York REIT is looking to sell its 49% stake in the 50-story 1 Worldwide Plaza in Midtown Manhattan, N.Y., The Real Deal reported, citing Real Estate Alert.

Valued at $1.45 billion in 2013, the entire 1.8 million-square-foot tower could now sell for $1.8 billion, insiders told the publication.

New York REIT, which is undergoing liquidation, has an option to acquire the remaining 51% stake in the office property, owned by George Comfort & Sons and partners, though according to the report it is unclear whether the REIT will do so before selling.

Eastdil Secured, which was hired by New York REIT to start marketing the stake, declined to comment, according to the report.