Deutsche unit nears deal for stake in 90 Fifth Avenue

New York /
Jun.June 13, 2013 12:30 PM

Deutsche Asset & Wealth Management, an arm of Deutsche Bank, is close to gaining an ownership stake in 90 Fifth Avenue, the former home of Forbes, Crain’s reported.

The deal, in which Deutsche is seeking a preferred equity stake, would value the 11-story, 140-square-foot property at $115 million. Multiple parties remained in talks to potentially buy a stake in the property, the newspaper said.

Aby Rosen’s RFR Realty has tried to sell the property for years; if a deal goes through, the company would continue to own a majority interest, Rosen told Crain’s.

The company had arranged to sell the building to Jamestown Properties for $115 million last year, but the transaction fell through when Forbes defaulted on its rent, as previously reported. Forbes, which now resides at 60 Fifth Avenue, leased 110,000 square feet inside the building. RFR reached an agreement to let Forbes out of its lease at the property, Crain’s reported. [Crain’s] Mark Maurer


Related Articles

arrow_forward_ios
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
100 East 53rd Street,  Vanke US managing director Kai-yan Lee, and RFR's Aby Rosen (Photos via Structure Tone and Getty)

Aby Rosen accuses Chinese partner of “power grab” after condo loan default

Aby Rosen accuses Chinese partner of “power grab” after condo loan default
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)

Real estate lending bounces back in September in a big way

Real estate lending bounces back in September in a big way
522 Fifth Avenue and 1375 Broadway (Google Maps)

Manhattan CRE deals hit lows not seen since 2009

Manhattan CRE deals hit lows not seen since 2009
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)

Aby Rosen, Michael Fuchs back new retail brokerage

Aby Rosen, Michael Fuchs back new retail brokerage
522 Fifth Avenue and RFR Realty’s Aby Rosen (Credit: Getty Images; Google Maps)

Aby Rosen snags $224M loan for Midtown office building

Aby Rosen snags $224M loan for Midtown office building
RFR Realty's Aby Rosen and 522 Fifth Avenue (Getty; Google Maps)

Aby Rosen buys Midtown office building for $350M

Aby Rosen buys Midtown office building for $350M
Joseph Nakash, Aby Rosen and W South Beach (Getty, Google Maps)

Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos

Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...