Blank Rome was proud to represent DRA Advisors LLC in its acquisition of a 49-percent stake in 1301 Avenue of the Americas from Rithm Capital. The property is a 45-story, 1.75 million-square-foot office tower in Midtown Manhattan and is valued at $1.3 billion. The transaction closed on September 30, 2026, and was structured as a joint venture recapitalization, with Rithm Capital keeping a 51-percent interest.
For more information, please read, “DRA Advisors Buys 49% Stake in 1301 Avenue of the Americas,” (October 4, 2026, subscription required).
The Blank Rome team was led by Beth Bernstein Connors, with significant support from Samantha Wallack, Corey Tarzik, Joe Gulant, Elaine Scivetti, and Eli Krause, and additional contributions from members of our Real Estate; Corporate, M&A and Securities; Labor & Employment; Tax; Government Contracts; and Litigation practice groups.