Simons Foundation to pay $1,500 psf to acquire office portion of 160 Fifth Avenue

Aby Rosen and Micahel Fuch's RFR will keep retail at building

New York /
Aug.August 08, 2018 08:00 AM

160 Fifth Avenue (credit: RFR Holdings)

A mathematics and science research foundation plans to buy the office portion of RFR Holdings‘ 160 Fifth Avenue for roughly $185 million.

The Simons Foundation is purchasing the 150,000-square-foot space in the Flatiron District building, paying $1,500 per square foot, the New York Post reported. RFR, led by Aby Rosen and Michael Fuch, will maintain control of the building’s retail portion, which includes tenants Club Monaco and Toby’s Estate Coffee. Simons already leases about 76,000 square feet of office space at 160 Fifth Avenue, according to the Post.

RFR purchased the building in 2005 for $34.2 million and has a $110 million mortgage on the property. In 2016, Simons expanded its footprint in the neighborhood, inking a lease for 125,000 square feet across the street from RFR’s property at 162 Fifth Avenue.

Cushman & Wakefield investment team of Douglas Harmon, Adam Spies and Michael Collins, along with team from JLL, represented RFR. The sale is expected to close in the fall. [NYP] — Kathryn Brenzel


Related Articles

arrow_forward_ios
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Urban Commons' Salvatore G. Takoushian with Wagner at the Battery
Urban Commons puts FiDi hotel into bankruptcy
Urban Commons puts FiDi hotel into bankruptcy
arrow_forward_ios

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

Loading...