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    647 Fifth Avenue

    647 Fifth Avenue
    New York, NY 10022
    Retail, Leasing/Rental, Ground Lease

    647 Fifth Avenue, a 6-story, 22,570 square foot floor plate, was built in 1930. It has two commercial units. The site is home to the Versace boutique in Manhattan. The building is the only remaining townhouse out of several that once graced the block and were known as Vanderbilt Row. According to Curbed, 645 was torn down in 1945 by the children's clothing retailer Best & Co. Today the site is occupied by Olympic Tower. Crown Acquisition acquired the property in 2013, a high-profile jewel in its crown of $2.60 billion of property the firm bought that year. In a 2013 story the New York Times reported that in the early 20th century the Vanderbilt family bought the land to prevent commercial development net to the family enclave. Later, the family spent more than $1 million to build two houses on 645 Fifth and 647 Fifth. The Vanderbilts also owned the lot at 649 Fifth, which they sold to Morton F. Plant. Plant built a mansion at 649 that now houses jeweler Cartier. -GM

    • Address 647 Fifth Avenue
    • neighborhood Midtown
    • borough Manhattan
    • owner Crown Acquisitions
    • owner entity OT ECONOMIC JOINT VENTURE (DE) LP
    • floors 6
    • Year Built 1930
    • square feet 22,570
    • block and lot 1-01287-0071
    • BIN 1035480

    02/01/2016
    Vornado was also sacked with the third highest assessment jump. Along with its partner Crown Acquisitions, it saw 647 Fifth Avenue jump 56 percent in value to $69 million...
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