693 Fifth Avenue | The Real Deal New York

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693 Fifth Avenue

693 Fifth Avenue
New York, NY 10022
(212) 529-7417
Website
Office, Retail, Leasing/Rental

693 Fifth Avenue is an office-and-retail building owned by French billionaire Marc Ladreit de Lacharrière. The structure, which has 20 stories and 105,000 square feet, was built in 1993.

It was originally the property and New York flagship of Japanese retailer Takashimaya. In June 2010, the company closed the store.

Thor Equities, a privately held real estate firm founded in 1986 by Joseph Sitt, acquired 693 Fifth Avenue for $142 million in 2010 after Takashimaya went bankrupt, and spent millions of dollars upgrading the property. Ladreit de Lacharrière, who bought it from Thor for $525 million in 2016, is chair and CEO of Fimalac, a French holding company that owns minority stakes in Fitch Ratings and Warburg Pincus.

 

  • Year Built 1991
  • square feet 101,319
  • block and lot 1-01290-0003
  • BIN 1035742

11/01/16
...million purchase of Thor Equities’ office-and-retail building at 693 Fifth Avenue in Midtown. A representative for CBRE declined to comment...

10/12/16
...across New York City. In June, Thor sold 693 Fifth Avenue to French billionaire Marc Landreit for $525 million and also agreed to sell 155 Mercer Street...

08/25/16
...as the retail at the Takashimaya building at 693 Fifth Avenue and bringing in brand-name tenants such as Valentino. The building’s observatory is a...

07/15/16
...Ladreit de Lacharrière’s $525 million acquisition of 693 Fifth Avenue with a $259 million loan. Both banks are reportedly part of a consortium that will...

06/16/16
...Marc Ladreit de Lacharrière (via YouTube) and 693 Fifth Avenue French billionaire Marc Ladreit de Lacharrière lined up $250 million to finance his acquisition...

06/16/16
...closed on the $525 million purchase of Thor Equities’ 693 Fifth Avenue in Midtown, which he bought for nearly four times the price paid by Thor...

06/10/16
...left: Marc Ladreit de Lacharrière (via YouTube), 693 Fifth Avenue and Valentino store French billionaire Marc Ladreit de Lacharrière has closed on the...

05/31/16
...into contract to sell an office-and-retail building at 693 Fifth Avenue, which is home to the Valentino store, for $525 million.  The deal, if it closes...

05/17/16
...The firm is currently in contract to sell 693 Fifth Avenue for $525 million and the offices at 685 Fifth Avenue for $115 million...

05/06/16
...to sell its retail and office building at 693 Fifth Avenue in Midtown for $525 million. The Real Deal also reported this week that the firm...

05/05/16
...to sell a retail and office building at 693 Fifth Avenue for $525 million. Last month, Green Street reported that the national index had fallen slightly...

05/04/16
...The firm is currently in contract to sell 693 Fifth Avenue for $525 million and the offices at 685 Fifth Avenue for $160 million...

05/03/16
...-- citing Thor Equities’ recent deal to sell 693 Fifth Avenue, which houses luxury fashion brand Valentino’s flagship store, for a reported $525 million. Valuing...

05/02/16
...GGP -- and the full office-and-retail building at 693 Fifth Avenue. The building on West 57th Street is directly across from the site of Extell...

05/02/16
...693 Fifth Avenue in Central Midtown (inset: Joe Sitt) Joe Sitt’s Thor Equities is in contract...

03/09/16
...trust, Bloomberg reported. Sitt's firm bought the 101,000-square-foot 693 Fifth Avenue, home to a Valentino location, in 2010, for $142 million. It picked up the 82,000-square-foot 590 Fifth...

03/26/15
...portfolio includes such retail sites as 597 Fifth Avenue, 693 Fifth Avenue, 685 Fifth Avenue and 680 Madison Avenue, according to the company's website. Earlier this month, Thor...

08/04/14
...From left: Valentino, 693 Fifth Avenue and Joe Sitt Fifth Avenue's latest high-end tenant has moved in. Italian fashion designer...

06/20/14
...Avenue, located at 43rd Street, as well as 693 Fifth Avenue, located between 54th and 55th streets. “Given the incredible increase in demand from luxury...

03/14/14
Rendering of 693 Fifth Avenue (Credit: Neocape) Thor Equities' renovation of the former Takashimaya department store in Midtown and the 3.5-mile QueensWay Cultural Greenway are among the...

03/04/14
...Takashimaya's former 20,000 square foot space at Thor Equities' 693 Fifth Avenue, between 54th and 55th streets. Meanwhile,  H&M will soon move two blocks...

12/12/13
...Andrew Goldberg and 693 Fifth Avenue CBRE retail broker Andrew Goldberg has been promoted to vice chairman at the commercial...

10/02/13
...string of properties along Fifth Avenue, including 445, 590, 597 and 693 Fifth Avenue. In July, Sitt made an unsuccessful $2.1 billion bid for the Empire State Building, as...

09/09/13
...with another difficult space, the Takashimaya building at 693 Fifth Avenue, criticized by brokers as having inefficient floor layouts. After nearly three years and some...

08/27/13
...highest rents. Valentino recently inked a deal for 693 Fifth Avenue, the former Takashimaya Building, a block from 666 Fifth Avenue, for between $2,600 per foot and...
  • Event Financing
  • Address 693 Fifth Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 96,500
  • Price $ 250,000,000
  • Price per foot $ 2,590.00
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 Ladreit de Lacharrière
  • Party 1 Brokerage CBRE
  • Party 1 Broker Shawn Rosenthal, Jason Gaccione
  • Party 2 JPMorgan Chase Bank
notes
The French billionare secured a $250 million acquisition loan.
  • Event Sales
  • Address 693 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 100,000
  • Price $ 525,000,000
  • Price per foot $ 5,250.00
notes
The office and retail building sold for $525 million.
  • Event Retail Leasing
  • Address 693 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 5,300
  • Event Sales
  • Address 693 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 97,500
  • Price $ 140,000,000
  • Price per foot $ 1,435.90
notes
Joe Sitt of Thor Equities won the Takashimaya Building last month with an offer of $140 million, or around $1,450 per square foot.

...is preparing a new project. 562-564 Fifth Avenue 693 Fifth Avenue In May, French billionaire Marc Ladreit de Lacharrière bought the office-and-retail building anchored...

...past year. Those include the Takashimaya building at 693 Fifth Avenue, which was leased last year to Valentino for a reported annual rent of $16 million...

...with two locations on the pricey stretch.   693 Fifth Avenue (Takashimaya Building) Address: 693 Fifth Avenue (Takashimaya Building) Landlord: Thor Equities Tenant: Forever 21 Lease status...

...Equities' July deal for the Takashimaya Building at 693 Fifth Avenue for $142 million, and Rockpoint Group's purchase of a nearly 50 percent stake in Park Avenue...
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