Columbia Property Trust, owned by PIMCO, is marketing its 12-story office building at 799 Broadway in Greenwich Village for $250 million, below its $270 million debt. Blackstone Mortgage Trust, the lender, is offering pre-arranged financing to ease the sale process. Completed in 2022, the building is 71% occupied and marketed by Eastdil Secured. Columbia, led by CEO Adam Frazier, aims for $1,400 per square foot. The sale contrasts sharply with recent distressed sales, such as 135 West 50th Street’s $8.5 million auction. Columbia previously faced major defaults on other properties but modified the loan earlier this year.
Columbia Property Trust
