The Real Deal New York

Crown Building hits market, wants $2B

The Spitzer and Winter families are the sellers
December 06, 2014 10:00AM

The Crown Building on Fifth Avenue has hit the market, seeking between $1.5 billion and $2 billion.

Located at 730 Fifth Avenue on the southwest corner of West 57th Street, the building is being marketed by Eastdil Secured’s Douglas Harmon, Adam Spies and Kevin Donner, sources told the New York Post.

The other three corners of the intersection are occupied by luxury retailers Bergdorf Goodman, LVMH and Tiffany, making this property a retail sweet spot.

The 400,000 square-foot tower is currently owned by the Winter family and the Spitzer family, now headed by former Governor Eliot Spitzer.

Building tenants include talent and literary agency ICM, private-equity firms KKR and Apollo Global Management, men’s designer Ermenegildo Zegna, Bank of America, Piaget, Bulgari and Mikimoto. [NYP] Christopher Cameron

  • WhoWillRobDurstPissOnNext?

    Great picture of Eliot.

  • Mitchell Antar

    JEFF Has a bid on it to complete his block of retail

    • moneytalks

      If Jeff Sutton wins, they can call him the Emperor of Retail. It will be interesting…

  • richjew

    Estate taxes. They are not necessarily going to sell it.

    • Marc

      It was a bad year for Mr. Spitzer to die. Taxes will be minimum 52%. His years of brilliant and gutsy deal making will now go mostly to our Marxist masters. His son supported that. Now he can cringe.

  • ck

    This building is not worth 2 billion . The world today is crumbling all around us and these guys are putting numbers on brick and mortar structures that induce power tripping madness. They are all crazy…

  • Mitchell antar

    Make money or not Jeffs Ego is too big to loose it.

    • moneytalks

      I don’t know him personally, I haven’t heard anything bad about him. Some said that he is very humble. However, we all know he is extremely wealthy.

    • Marc

      He has a big ego but he’s also quite humble and a nice guy. Also a good family man. Met him over 20 years ago several times then. I bear him no ill will. He earned it & I’m happy he’s doing well. He has a special mind. I wish a bit of that’d rub off on me.

  • Roger

    I know an Iranian Jew that you would never think who builds CVSs that has a bid on it. What is surprising is he has never bought a building for over 30M. He was touring the building last week with 2 dudes and a lady that wore a shodoor.

  • Client 9

    Where would Client 9 be without daddy’s money?

  • All the Best

    It is one of a kind, built like a tank, sounds like a winner!

  • GoosNeck

    Eventually Jeff is going to lose on Doubles and splits.