Tishman Speyer moves to sell 6 Grand Central office. Firm marketing ground lease of Midtown property for $450M While one prominent office development goes up around Grand Central Terminal, Tishman Speyer is preparing to sell another. Rob Speyer is marketing the fee simple interest in 6 Grand Central, formerly known as 666 Third Avenue, for an asking price around $450 million, the Commercial Observer reported. That would break down to about $584 per square foot for the 770,000-square-foot office building. Tishman declined to comment on the offering. Eastdil Secured's Gary Phillips and Will Silverman are leading marketing efforts. The property at the corner of Third Avenue and East 42nd Street directly connects to Grand Central Terminal, one of the few postwar buildings to do so. Tishman acquired the property in 1998. It last tried to sell the Class A office tower back in 2019, but didn't make a deal. Three years later, it renovated the property and refinanced the debt with a $185 million loan from Bank of America, replacing a 2012 loan of $265 million from Morgan Stanley Mortgage Capital. Tenants at the building include investment manager VanEck, the Consulate General of the Netherlands, law firm Mintz Levin and health care logistics firm Strata Critical. There's also Studio Grand Central, which offers coworking spaces, private offices and meeting rooms. The listing may be part of a broader strategy for Tishman, particularly on the heels of another sale this year. In February, Delshah Capital and A.M. Property Holding Corporation entered into contract to buy the CitySpire office tower in the Plaza District from Tishman Speyer and GIC. The 70-story, 377,000-square-foot, 98 percent leased office building at 156 West 56th Street was being sold for $135.7 million, equating to $360 per square foot. It's an interesting moment to try and sell office space by Grand Central Terminal, considering what may soon be coming to the submarket: BXP recently secured a $1.2 billion construction loan led by Wells Fargo for a 930,000-square-foot office development at 343 Madison Avenue, which is slated to open in 2029.

Tishman Speyer enters Charlotte market with Berkshire Dilworth buy. Tishman Speyer acquired the 296-unit Berkshire Dilworth apartment community from Berkshire Residential, its first purchase in Charlotte, N.C., through its TS Plus core-plus fund. Tishman Speyer has acquired Berkshire Dilworth, a 296-unit market-rate apartment community in Charlotte, N.C., marking the global developer's first purchase in the city, according to the company's announcement. The deal, acquired from Berkshire Residential, was made through Tishman Speyer's TS Plus fund, a vehicle focused on core-plus investments in fast-growing metro areas. The purchase is the seventh acquisition for the TS Plus fund, which has raised $973 million to date and previously bought industrial properties in Northern California and South Florida along with residential communities in Chicago, Dallas, Raleigh and Montclair, N.J. The fund's strategy targets core-plus multifamily and industrial assets in metro areas with strong long-term demographic and economic fundamentals rather than ground-up development. It is also Tishman Speyer's second multifamily purchase in North Carolina this year, following its January acquisition of The Maggie, a 244-unit Raleigh community, through the same platform. A Dilworth property with hospital and life-sciences neighbors. "The quality of Berkshire Dilworth, combined with Charlotte's strong demographics and the neighborhood's high barriers to entry, made this asset a compelling addition to our core plus fund," said Nikita Rao, Tishman Speyer senior managing director. "This acquisition demonstrates the disciplined approach of our investment strategy, targeting high-quality assets in markets with durable fundamentals and economic tailwinds." Completed in 2016 and currently 97% leased, Berkshire Dilworth sits at 1351 E. Morehead St. in Charlotte's Midtown-Dilworth district, with studio-to-two-bedroom units above roughly 3,000 square feet of street-level retail. The property offers a fitness center, outdoor pool, rooftop lounge, yoga room and a pet spa, and sits near Midtown, South End and Uptown Charlotte. Tishman Speyer said it plans targeted upgrades to the amenity spaces, exterior and select apartment interiors. The property is adjacent to Atrium Health's Carolinas Medical Center, which is undergoing an approximately $893 million expansion that will add a 1.1-million-square-foot patient tower and increase hospital capacity by nearly half, and near The Pearl Innovation District, a $1.5 billion life-sciences campus anchored by Wake Forest University School of Medicine and IRCAD North America. Newmark's John Heimburger, Dean Smith and Sean Wood represented the seller. Part of a broader residential push. Tishman Speyer has invested in residential real estate since 1989 and has acquired, developed and managed roughly 30,000 rental apartments and for-sale condominiums across the U.S., Brazil, China and Europe. Since 2023, the company said, it has acquired more than 3,000 apartment units across 11 communities in nine states and two countries, while starting or completing construction on about 4,100 rental units and maintaining a development pipeline of 8,000 more units. The TS Plus fund reflects a strategy distinct from the large-scale ground-up development Tishman Speyer is best known for: buying already-stabilized, income-producing assets in growing secondary markets rather than building from scratch. What it means. The verified facts: a named buyer, seller, unit count and fund history, all drawn from the company's own account of the deal - the purchase price was not disclosed. Rao's framing of Charlotte's "high barriers to entry" and "durable fundamentals" is the company's investment thesis, not an independently verified market assessment. What to watch: whether Tishman Speyer follows this entry with additional Charlotte-area purchases, as it has in Raleigh, and how the neighboring hospital and life-sciences expansions affect demand for the property's amenity-heavy units. For comparison, see RealtyWire's coverage of Ascent Housing's recent purchase of a 140-unit Charlotte apartment community, another sign of continued investor interest in the market.