A venerable Fifth Avenue office tower that Silverstein Properties has owned for 45 years changed hands this week, as Empire Capital Holdings agreed to acquire the building at 529 Fifth Avenue for $105M.

The 20-story building, which encompasses 254K SF and 27K SF of retail space, sits a few blocks north of Grand Central Terminal. Newmark arranged the sale and is securing acquisition financing for Empire Capital.

Jack Rogers

 

GlobeSt

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