693 Fifth Avenue | The Real Deal New York

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693 Fifth Avenue

693 Fifth Avenue
New York, NY 10022
(212) 529-7417
Website
Office, Retail, Leasing/Rental
693 Fifth Avenue
693 Fifth Avenue is an office-and-retail building owned by French billionaire Marc Ladreit de Lacharrière. The structure, which has 20 stories and 105,000 square feet, was built in 1993. It was originally the property and New York flagship of Japanese retailer Takashimaya. In June 2010, the company closed the store. Thor Equities, a privately held real estate firm founded in 1986 byJoseph Sitt, acquired 693 Fifth Avenue for $142 million in 2010 after Takashimaya went bankrupt, and spent millions of dollars upgrading the property. Ladreit de Lacharrière, who bought it from Thor for $525 million in 2016, is chair and CEO of Fimalac, a French holding company that owns minority stakes in Fitch Ratings and Warburg Pincus.  
  • Year Built 1991
  • square feet 101,319
  • block and lot 1-01290-0003
  • BIN 1035742
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  • Event Retail Leasing
  • Address 693 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 5,300
notes
The London-based art gallery signed a 15-year lease.
  • Event Sales
  • Address 693 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 97,500
  • Price $ 140,000,000
  • Price per foot $ 1,450.00
notes
Joe Sitt of Thor Equities won the Takashimaya Building last month with an offer of $140 million, or around $1,450 per square foot.

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