NEW YORK CITY—Reliable industry sources confirm to GlobeSt.comEXCLUSIVELY that 730 5th Ave., also known as theCrown Building, is quietly being marketed forsale, with bids due next month. The asset previously was known asthe Heckscher Building.
Prices being offered for the over 360,000-square-foot tower arereportedly reaching the stratosphere of up to $1.8 billion, sourcesreveal, though GlobeSt.com was unable to confirm that informationat press time.
Jointly owned by Winter Properties andSpitzer Enterprises, the building was lastacquired in 1991 for $95 million. The 25-floor neoclassical towersits at the Southwest corner of 57th street.
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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.
