BXP putting 7 Times Square ground lease on the market

BXP is trying its hand at a nine-figure deal in the heart of Manhattan. Owen Thomas’ firm is seeking to sell the ground lease tied to 7 Times Square, the Commercial Observer reported. BXP is reportedly expected to ask between $700 million and $750 million for the 1.2 million-square-foot property. What’s unclear is whether or not that asking price pertains to the entire ground lease, or the majority stake BXP possesses. Eastdil Secured’s Will Silverman, who is marketing the ground lease with Gary Phillips, did not respond to a request for comment from The Real Deal and declined to comment […]

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