Rival brokers have been tapped by Hines to market a two-building office portfolio of 499 Park Ave. and 425 Lexington Ave. — a package that could rake in $1 billion.
Chicago-based Hines, which will break ground on the construction of another office property, 7 Bryant Park on Feb. 25 that is being leased by CBRE, has hired its capital markets group led by Darcy Stacom — as well as Eastdil Secured’s investment team, led by Douglas Harmon — to co-market the two buildings.
Eastdil Secured does not lease or manage properties but the Harmon-led brokerage sold over $10 billion in sales and recapitalizations in New York last year alone.
Last month it put the Sony Building at 550 Madison Ave. into contract for $1.1 billion and last week, the Brill Building for $185 million.
Stacom is currently handling the sale of a stake in the GM Building and the sale of the office portion of 866 UN Plaza — and is known as the “Queen of the Skyscrapers” for her extensive trophy sales.
The teams will be rounded out by Bill Shanahan and Paul Gillen of CBRE and Adam Spies and Kevin Donner of Eastdil Secured.
The smaller of the office buildings is the I.M. Pei-designed 300,000-square-foot tower at 499 Park Ave. at the southeast corner of East 59th Street. Hines bought it from Sumitomo Life in 2003 for $147.8 million and may have paid an additional amount for the land.
The 700,000-square-foot 425 Lexington Ave. on the northeast corner of East 44th Street opposite Grand Central Terminal was designed by Helmut Jahn’s Murphy/Jahn for Olympia & York in 1987.
It was purchased by Hines Core Office Fund in 2003 along with its then-seller Sumitomo Life Realty.
Neither a spokesperson for Hines nor the brokers returned a request for comment.