UPDATED, Feb. 19, 1:49 p.m.: Anbang Insurance Group, the Chinese company that purchased the Waldorf Astoria last year for $2 billion, is making another impressive deal with the purchase of 717 Fifth Avenue from the Blackstone Group for an undisclosed price.
The 26-story, 465,000-square-foot office tower is located on the corner of 56th Street — one block south of the Crown Building, which is 80,000 square feet smaller and sold for $1.75 billion late last year, Crain’s reported.
Office buildings like 717 Fifth Avenue in Midtown’s Plaza District can command rents upward of $200 per square foot. Harry Winston occupies the ninth floor of the building. Retail rents in the area are some of the highest in the city.
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CBRE represented Blackstone in the deal.
Correction: A previous version of this story misidentified the broker representing Blackstone.