{"id":1004783472,"date":"2026-01-12T02:53:43","date_gmt":"2026-01-12T10:53:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004783472"},"modified":"2026-01-12T02:56:58","modified_gmt":"2026-01-12T10:56:58","slug":"blackstone-unit-sells-manhattan-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/","title":{"rendered":"Blackstone Unit Sells Manhattan Office Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004783499\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/61-63-crosby-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg\" data-orig-size=\"409,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"61-63 Crosby St.\" data-image-description=\"&lt;p&gt;Image from the Yardi Matrix database&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Originally completed in 1900 as a residential building, this property now includes office and retail space. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg?w=409\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg\" alt=\"Exterior shot of the building at 61-63 Crosby St. in Manhattan\" class=\"wp-image-1004783499\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><\/a><figcaption class=\"wp-element-caption\">Originally completed in 1900 as a residential building, this property now includes office and retail spaces. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Vertex has acquired 61\u201363 Crosby Street, an office building in the SoHo district of Manhattan. Blackstone&#8217;s Perform Properties sold the asset for $53 million, the <em>Commercial Observer<\/em> reported. A Newmark team arranged the all-cash transaction.<\/p>\n\n\n\n<p>The historic property changed ownership after less than two years. Perform had acquired it for $54.5 million in November 2024, according to Yardi Matrix information.<\/p>\n\n\n\n<p>The five-story, 32,400-square-foot structure was fully leased at the time of sale. The upper floors, totaling about 24,300 square feet of office space, house several creative and technology tenants, including Comcast Ventures, Aptos Labs and SISTER Group. <\/p>\n\n\n\n<p>Patagonia\u2019s New York City flagship store anchors the retail component under a lease that runs through 2040.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/will-stability-win-over-volatility-in-2026\/\">Will Stability Win Over Volatility in 2026?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Originally developed in 1900 as a residential property, the low-rise was converted to office use in 2016 and underwent redevelopment in 2018. The improvements, which include modernized interiors, upgraded systems and the addition of a penthouse level with a private terrace, align with the current <a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">office building trends<\/a>.<\/p>\n\n\n\n<p>Newmark\u2019s Adam Spies, Adam Doneger, Josh King, Marcella Fasulo and Meaghan Philbin brokered the deal. Olmstead Properties will serve as property manager going forward.<\/p>\n\n\n\n<p>Vertex has been an active buyer lately. In November, the company bought 373 and 381 Park Ave. S., another Manhattan office asset, from ATCO Properties &amp; Management for $104 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-busy-times-for-manhattan-s-office-market\">Busy times for Manhattan&#8217;s office market<\/h2>\n\n\n\n<p>Manhattan continues to led the nation in office asset investment sales, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-construction-falls-to-historic-lows-pricing-reached-bottom\/\">Yardi Matrix report<\/a>. The borough was tops in both sales volume and prices, with nearly $7.3 billion in deals for 2025 as of November and a $514 per square foot average sale price. The runner-up remained the Bay Area, with $4.4 billion in sales and a per-square-foot price averaging $386.<\/p>\n\n\n\n<p>One of the larger <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-november-2025\/\">office transactions in Manhattan<\/a> recently was the sale of 346 Madison Ave. for $85 million. SL Green Realty acquired the 140,280-square-foot Central Midtown property in November from an entity affiliated with Italian businessman Claudio Del Vecchio\u2019s Catalyst Brands.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This property changed hands for slightly less than its 2024 trade.<\/p>\n","protected":false},"author":1023,"featured_media":1004783501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21747],"tags":[32892,50999,44738,52772],"class_list":["post-1004783472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-blackstone","tag-newmark","tag-olmstead-properties","tag-perform-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Unit Sells Manhattan Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone&#039;s Perform Properties.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Unit Sells Manhattan Office Asset\" \/>\n<meta property=\"og:description\" content=\"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone&#039;s Perform Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-12T10:53:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-12T10:56:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"409\" \/>\n\t<meta property=\"og:image:height\" content=\"307\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/\",\"name\":\"Blackstone Unit Sells Manhattan Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg\",\"datePublished\":\"2026-01-12T10:53:43+00:00\",\"dateModified\":\"2026-01-12T10:56:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"description\":\"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone's Perform Properties.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg\",\"width\":409,\"height\":307,\"caption\":\"Exterior shot of the building at 61-63 Crosby St. in Manhattan\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blackstone Unit Sells Manhattan Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\",\"name\":\"Dees Stribling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"caption\":\"Dees Stribling\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/dcstribling\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Blackstone Unit Sells Manhattan Office Asset - Commercial Property Executive","description":"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone's Perform Properties.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"Blackstone Unit Sells Manhattan Office Asset","og_description":"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone's Perform Properties.","og_url":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2026-01-12T10:53:43+00:00","article_modified_time":"2026-01-12T10:56:58+00:00","og_image":[{"width":409,"height":307,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg","type":"image\/jpeg"}],"author":"Dees Stribling","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/","name":"Blackstone Unit Sells Manhattan Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg","datePublished":"2026-01-12T10:53:43+00:00","dateModified":"2026-01-12T10:56:58+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c"},"description":"Vertex has acquired 61\u201363 Crosby Street, a historic office building in Manhattan, from Blackstone's Perform Properties.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg","width":409,"height":307,"caption":"Exterior shot of the building at 61-63 Crosby St. in Manhattan"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-manhattan-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Blackstone Unit Sells Manhattan Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c","name":"Dees Stribling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","caption":"Dees Stribling"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/dcstribling\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/61-63-Crosby-St._featured.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004783472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1023"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004783472"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004783472\/revisions"}],"predecessor-version":[{"id":1004783508,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004783472\/revisions\/1004783508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004783501"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004783472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004783472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004783472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}