Richard Born Part of Investor Group in BlackRock’s $245M Sale of 600 Third Avenue
The hotel investor joins Marty Burger, David Levinson, BLDG and Richard Mack in buying the 42-story Midtown East office building
By Cathy Cunningham and Andrew Coen September 22, 2026 3:33 pm
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Hotel investor Richard Born is an investor in 600 Third Avenue. Born joined L&L Infinite, a joint venture formed by former Silverstein Properties CEO Marty Burger and L&L Holding CEO David Levinson, as an investor in the $245 million purchase of the 42-story Midtown East office building from BlackRock.
Born invested through BD Blakely, an affiliate of BD Hotels, which was founded in 1986 by Born and Ira Drukier. Affiliates of Richard Mack’s Mack Real Estate Group and BLDG were also part of the purchase, according to a release.
The deal marks a big transformation for the office building, which BlackRock previously had a 99.5 percent stake in for roughly the past 20 years, with L&L Holding owning just 0.5 percent. BlackRock exited the deal to recycle capital, one source said.
The new ownership group secured a $185 million acquisition loan from Bain Capital at closing to purchase the 1970-built property between East 39th and East 40th streets that was renovated in 2015. Newmark‘s Jordan Roeschlaub arranged the loan alongside Bain.
Newmark also arranged the sale transaction with a team consisting of Adam Spies, Adam Doneger, Josh King, Marcella Fasulo, Avery Silverstein and Doug Harmon.
Bloomberg first reported the sale.
The property was 92 percent leased at the time of the deal, according to sources. Its anchor tenants include L-3 Communications, which occupies close to 59,000 square feet, along with law firms Polsinelli PC and Aaronson Rappaport Feinstein & Deutsch.
Aaronson Rappaport renewed a 42,764-square-foot lease for its headquarters on the entire fifth and sixth floors in February 2025, CO first reported at the time. Polsinelli PC signed a 10-year deal in early 2023, extending its lease through 2036, while also expanding its footprint by 13,129 square feet up to 52,516 square feet.
L&L Infinite and BlackRock did not immediately return requests for comment.
News of the sale at 600 Third Avenue follows on the heels of two other major deals along the corridor. SL Green Realty is pricing 711 Third Avenue at approximately $160 million, while Fisher Brothers’ 605 Third Avenue is going up for sale for roughly $425 million, sources said. Both deals are being marketed by Newmark.
Andrew Coen can be reached at acoen@commercialobserver.com.
