The narrow, 260,000-square-foot Bush Tower at 130 West 42nd Street is back on the market, the New York Post reported, after failing to find a buyer who would put up the $165 million asking price. First round bids on the property are due by Oct. 26.
With the surrounding Midtown area getting a makeover — a hotel is rising on a formerly vacant lot next to the Knickerbocker Hotel at 6 Times Square and the Blackstone Group is dismantling low-rise structures to put up a glass retail pavilion at 132 West 42nd Street – the office property is expected to fetch around $140 million.
Helen Hwang and Karen Wiedenmann of Cushman & Wakefield are currently managing the sale on behalf of American Properties.
The Bush Tower was built in 1916 for Irving Bush’s Bush Terminal Company, owners of Bush Terminal in Sunset Park, Brooklyn.