530 Park Avenue Sells for $211 M.

BlackRock is in contract to purchase a rental building at 530 Park Avenue for $211 million, a source familiar with the deal said.

The building sold for $1.51 million per rental unit, one of the most expensive per-unit sales ever. The 19-story rental is at the corner of 61^st Street and has 139 apartments.

BlackRock is the elite investment fund that last year merged with the asset management portion of Merrill Lynch, which created a $1.1 trillion global asset manager. Now, BlackRock can set its sights on redeveloping the 180,000-square-foot 530 Park Avenue, which will likely turn either luxury rental or condo.

There will be more on this deal – and some major leases – in this week’s edition of Commercial Breaks.