693 Fifth Avenue
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.
block and lot 1-01290-0003
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...From left: Marc Ladreit de Lacharrière (via YouTube) and 693 Fifth Avenue
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...From left: Marc Ladreit de Lacharrière (via YouTube), 693 Fifth Avenue and Valentino store
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...693 Fifth Avenue in Central Midtown (inset: Joe Sitt)
Joe Sitt’s Thor...
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...From left: Valentino, 693 Fifth Avenue and Joe Sitt
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Rendering of 693 Fifth Avenue (Credit: Neocape)
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...Andrew Goldberg and 693 Fifth Avenue
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693 Fifth Avenue
The London-based art gallery signed a 15-year lease.
693 Fifth Avenue
Price per foot
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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