NEW YORK CITY—Rockwood Capital, Jamestown, Murray HillProperties, and Crown Acquisitions have entered into a contract tosell 530 Fifth Ave. for $595 million. The buyer of the26-story office and retail building—which occupies the entirewestern block of Fifth Avenue between 44th and45th Streets—is a partnership led by Thor Equities. Thedeal is expected to close in mid-September.
The selling group was represented by Eastdil; GlobeSt.com couldnot ascertain the names of the individual brokers on the deal atpresstime, or details on which firm represented the buyer.Representatives of Thor did not return a request for comment byGlobeSt.com by press time. Thor's partners on the deal, accordingto the New York Post, are General Growth Properties andRXR Realty.
530 Fifth Ave. contains approximately 480,000 square feet ofoffice space and another 55,000 square feet of retail space,fronting on Manhattan's famed Fifth Avenue. Current retail tenantsinclude Desigual, a Barcelona-based clothing retailer; JPMorganChase; and Fossil. Office tenants include MassachusettsMutual, Diageo North America, Cablevision, Lionsgate and AthyriumCapital.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
