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Blackstone buys stake in One Manhattan West

Blackstone Inc. has purchased a 49% stake in One Manhattan West from Brookfield Asset Management Inc. and Qatar Investment Authority in a deal that values the 67-story skyscraper on the corner of 9th Avenue and 33rd Street at $2.85 billion, the companies said late Monday. Brookfield managing partner Ben Brown and Blackstone Real Estate managing director Qahir Madhany led the transaction. Shares of Blackstone Group are down 15.9% and Brookfield has fallen 13.7% so far in 2022, compared to a drop of 12.4% by the S&P 500.

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