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530 Fifth Avenue

530 Fifth Avenue
New York, NY 10036
(212) 529-7417
Website
Office, Retail, Leasing/Rental

530 Fifth Avenue is a 26-story, 500,000-square-foot retail and office tower acquired in mid-2014 by a partnership that included Thor Equities, General Growth Properties and RXR Realty.

The partnership purchased the property, located between 44th and 45th streets, from Crown Acquisitions, Murray Hill Properties, Rockwood Capital and Jamestown in June 2014 for $595 million. The sellers had bought the property just two years before from Joseph Moinian and Joseph Chetrit for $390 million.

The building has 400,000 square feet of office space and 100,000 square feet of retail. Office tenants in mid-2014 included Massachusetts Mutual Life Insurance Corp. and Diageo North America. A JPMorgan Chase & Co. branch is one of the buildings retail tenants.

The acquisition of 530 Fifth Avenue was one of a series of purchases along Fifth Avenue that Joseph Sitts real estate firm Thor Equities made in 2014, including 164 Fifth Avenue for $23 million and 685 Fifth Avenue for $475 million.

-JC

  • Address 530 Fifth Avenue
  • neighborhood Grand Central
  • borough Manhattan
  • owner Thor Equities
  • sales/marketing Thor Equities, Michael Worthman
  • Year Built 1957
  • square feet 480,166
  • block and lot 1-01260-7503
  • BIN 1034227
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 15,000
  • Price per foot $ 76.00
notes
The architecture firm signed a lease for the Grand Central space which had an asking rent of $76 per square foot.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 116,000
notes
The office space provider inked a 11-year lease for the Grand Central location.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 10,800
notes
The discount retailer signed a lease for its Manhattan location at the Grand Central property.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 8,573
  • Publication Date 11/13/2017
  • Event Date 11/09/2017
  • Party 1 Thor Equities, General Growth Partners, RXR Realty
  • Party 2 Vans
notes
The shoe and skatewear company inked a lease for a flagship store.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 34,000
notes
The entertainment and media company expanded its lease.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 21,000
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 RXR Realty
  • Party 1 Brokerage RXR Realty
  • Party 1 Broker Dan Birney, Alexandra Budd
  • Party 2 Ameriprise Financial
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Josh Kuriloff, Andrew Braver
notes
The financial firm renewed its lease for 10 years.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 7,803
notes
The investment adviser signed a five-year lease for the entire 25th floor.
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  • Event Sales
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 500,000
  • Price $ 390,000,000
  • Price per foot $ 780.00
notes
The property sold for $390 million, or $780 per square foot, the New York Post reported.
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  • Event Sales
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 500,000
  • Price $ 390,000,000
  • Price per foot $ 780.00
notes
The property sold for $390 million, or $780 per square foot, the Wall Street Journal reported. Jamestown Properties and Rockwood Capital, which are providing equity for the purchase, will be the controlling equity holders in the property. The selling group originally acquired the building for $210 million in 2004. The building has 21,790 square feet of retail space on Fifth Avenue, currently occupied by LensCrafters, Chase bank and Fossil. The building also has several big-name office tenants, including JPMorgan Chase and MassMutual.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 34,000
  • Publication Date 11/01/2010
  • Event Date 09/22/2010
  • Party 1 Moinian Group
  • Party 2 Syms
  • Party 2 Brokerage Lansco
notes
The clothing retailer signed a lease for a new store in a joint venture with Filene's Basement, which Syms acquired last year. The space consists of 6,500 square feet on the ground floor, 9,500 square feet on the lower level and 18,000 square feet on the second floor.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 56,156
notes
The premium drinks business signed a five-year office lease for the entire fourth floor and part of the third floor.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 11,200
notes
The bank signed a 15-year lease for another location.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 11,260
notes
The bank inked a new long-term lease for the ground- and lower-level retail space.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 44,422
  • Publication Date 03/01/2010
  • Event Date 01/20/2010
  • Party 1 Moinian Group
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 2 Rainbow Advertising Sales
  • Party 2 Brokerage Cushman & Wakefield
notes
The advertising subsidiary of Cablevision's Rainbow Media Holdings renewed its lease on the entire sixth and 17th floors.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 45,000
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 Moinian Group
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Howard Kessler
  • Party 2 Cablevision
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Andy Behymer
notes
The cable television and sports holding company signed a seven-year lease renewal for the entire sixth and 17th floors.
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  • Event Retail Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 37,000
notes
The technology and services conglomerate inked a lease for retail space.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 34,128
  • Publication Date 02/01/2009
  • Event Date 12/23/2008
  • Party 1 Moinian Group
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Howard Kessler
  • Party 2 Wells Fargo
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Dale Schlather
notes
The bank renewed its lease for office space.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 14,904
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Moinian Group
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker Howard Kessler
  • Party 2 Ameriprise International Services
  • Party 2 Brokerage CBRE
  • Party 2 Broker Michael Liss
notes
The financial adviser took space.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 65,992
notes
The insurance company inked an 11-year lease renewal.
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  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 33,000
  • Publication Date 10/01/2005
  • Event Date 08/22/2005
  • Party 1 Joseph Moinian
  • Party 1 Brokerage in-house
  • Party 1 Broker Daniel Gohari
  • Party 2 Reis
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Robert Baraf, Mark Mandell, Philip Amarante
notes
Real estate research group moves from 5 West 37th St; 11-year lease
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  • Event Sales
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Price $ 220,000,000

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12/01/2014
Thor is also marketing the retail at 530 Fifth Avenue, a 1950s mixed-use property between 44th and 45th streets, which it bought in October for $595 million, along with General Growth Properties and Scott Rechler’s RXR Realty...

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Click to enlarge Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care Click to enlarge Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care...