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New York

GreenOak, Capstone pay $85M for former Playboy Club

Brazillian-based Group Victor Malzoni is selling the Midtown property

From left: 5 East 59th Street and a 1960s picture of Hugh Hefner and the Playboy Bunnies
From left: 5 East 59th Street and a 1960s picture of Hugh Hefner and the Playboy Bunnies

GreenOak Real Estate and Daniel Ghadamian and Josh Zamir’s Capstone Equities are buying the building that was once home to Hugh Hefner’s Playboy Club for $85 million.

Brazilian-based investor group Groupo Victor Malzoni is selling the property at 5 East 59th Street, the New York Post reported. Billionaire Paulo Malzoni paid in $42 million in 2012.

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No brokers were involved in the transaction of the roughly 50,000-square-foot, nine-story building, according to the newspaper.

The club flourished after opening in 1962 — frequented by patrons who resemble “Mad Men” characters — but closed two decades later. [NYP] — Claire Moses

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Capstone EquitiesGreenOak