DRA Advisors Buys Stake in 1301 Sixth Ave. for $1.3B

DRA Advisors acquired a 49% stake in the 1.7M SF 1301 Sixth Ave. office tower from Rithm Capital for $1.3B, forming a joint venture with Rithm. The building is fully leased, with new tenants including Adler & Stachenfeld and Fisher Brothers.

Why it matters. The transaction reflects ongoing strong demand for prime office space in New York City, affecting property values and investment strategies in the commercial real estate market.