NEW YORK CITY– A partnership of Rockwood Capital, Jamestown,Crown Acquisitions and Murray Hill Properties has sold 530 FifthAve. to a partnership led by Thor Equities for $595 million. The26-story office and retail building occupies the entire westernblock of Fifth Avenue between 44th and 45th Streets.
Rockwood, Jamestown, Murray Hill, and Crown originally purchasedthe property in early 2012 for $390 million. Since that time theownership team has invested more than $10 million to modernize thebuilding's infrastructure, including renovations to the building'slobby, HVAC system, elevators and common areas. The buildingfeatures approximately 480,000 square feet of office space andanother 55,000 square feet of retail space, fronting on FifthAvenue.
Rockwood declined a GlobeSt.com request for comment. A Thorspokesman did not respond to a request for comment by presstime.
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.
