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