717 Fifth Avenue | The Real Deal New York

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717 Fifth Avenue

717 Fifth Avenue
New York, NY 10022
Website
Office, Retail, Leasing/Rental

717 Fifth Avenue, also knowns as the Corning Glass Works Building and the Merrill Lynch Financial Center, is a 25-story, 357-foot office skyscraper in Midtown, Manhattan. It was designed by Harrison & Abramovitz architects in the international style. The building was completed in 1958. The lobby features a mural painted by Bauhaus artist Josef Albers. The building contains 468,000 square feet.

The tower is majority owned by the Blackstone Group, with minority stakes held by Jeff Sutton and SL Green, who own ground floor retail condominiums whose tenants include Armani and Dolce & Gabana. At the time of joint venture acquisition in 2006, SL Green had 32.75% ownership. However, SL Green now maintains a 10.92% stake at 717 Fifth Avenue, the majority of their stake having been bought out by Sutton in 2012.

Office tenants at the address include Andrew Farkas Island Capital Group, Merrill Lynch/Bank of America, and JC Flowers.

-WP

  • Year Built 1958
  • square feet 468,000
  • block and lot 1-01291-7501
  • BIN 1035776
Condominium Units+

09/13/17
...square feet in property, including trophy towers like 717 Fifth Avenue and 650 Fifth Avenue. Sutton’s son, Joseph, is working to expand the company’s...

08/28/17
...Guo Guangchang. Next came Anbang’s (Waldorf Astoria, 717 Fifth Avenue) then-chairman Wu Xiaohui. And now, there’s talk of Dalian Wanda Group's (One Beverly...

10/06/16
...corporate offices are also located at Sutton’s 717 Fifth Avenue. Skechers opened a store at Westfield’s World Trade Center mall in August. Meanwhile...

06/21/16
...From left: 717 Fifth Avenue, 75 Rockefeller Plaza and RXR's Scott Rechler Merrill Lynch Wealth Management is trading its Fifth...

02/04/16
...Gabbana has stores uptown at 827 Madison Avenue and 717 Fifth Avenue...

12/01/15
...From left: 717 Fifth Avenue and Anbang's Chairman Wu Xiaohui Chinese insurers are expected to spend US$73 billion in...

09/25/15
...buildings are not. Blackstone Group Jonathan Gray 1740 Broadway 717 Fifth Avenue “So you kind of have this residential crowd-out at a time when there’s...

08/05/15
...late 2014, the fund manager sold the office building 717 Fifth Avenue to Anbang for $415 million in May and last month sold the old New York...

07/22/15
...From left: The Waldorf-Astoria and 717 Fifth Avenue (inset: Chinese flag) Over the past four years, outbound commercial real estate investment from...

05/22/15
...the firm closed on the office portion of 717 Fifth Avenue for $415 million. Anbang is not the investor in 111 Murray Street, according to sources. At...

05/21/15
...From left: 717 Fifth Avenue and Anbang's Chairman Wu Xiaohui Anbang Insurance Group, the Chinese insurer that bought the...

02/19/15
...plans to buy a 26-story office building at 717 Fifth Avenue from the Blackstone Group for an undisclosed price...

02/18/15
...717 Fifth Avenue in Midtown UPDATED, Feb. 19, 1:49 p.m.: Anbang Insurance Group, the Chinese company that purchased...

08/18/14
...From left: a Harry Winston diamond and 717 Fifth Avenue Harry Winston Inc. is moving into office space across the street from its iconic...

04/04/14
...estate mogul, who owns over 120 properties citywide including 717 Fifth Avenue and 650 Fifth Avenue, and has signed major leases for flagship stores like Giorgio Armani...

01/14/14
...from its current 16,300-square-foot digs at the 26-story 717 Fifth Avenue, where it was paying rents starting in the mid-$140s per square foot, according...

11/13/13
...jointly control the retail portions of 609 Fifth Avenue, 717 Fifth Avenue, 720 Fifth Avenue and, as of last week, 650 Fifth Avenue – capitalized on the strong demand...

10/28/13
...out the office portion of the tower at 717 Fifth Avenue, which is made up of three office condominiums. The building comes with an unusual...

10/22/13
...From left: Jeff Sutton, Armani store, 717 Fifth Avenue (Photo: CoStar Group) and Blackstone's Steven Schwarzman Private equity juggernaut the Blackstone Group is...

10/16/13
...From left: Blackstone's Steven Schwarzman, 717 Fifth Avenue and Jeff Sutton The Blackstone Group has put a 26-story Fifth Avenue tower on...

03/13/13
...million mezzanine debt in a retail condominium at 717 Fifth Avenue, acquired a retail condominium leased to the high-end retailer All Saints at 415 West 13th...

01/30/13
...occupied the space during the construction of its 717 Fifth Avenue store, and fashioned the double-height ceilings at the north end after taking over the...

07/11/12
...Sutton pockets $400M from reworking the mortgage on 717 Fifth Avenue retail  10. Columbus Avenue BID gets approval to bring plant life and solar power to...


09/12/11
...while the Prada store is nearby the pair's 717 Fifth Avenue property, which recently inked Dolce & Gabbana as a tenant. In May, the duo...
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 18,400
notes
The fashion house signed a 15-year lease. The space was previously occupied by Escada.
  • Event Office Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,350
  • Price per foot $ 150.00
notes
The investment firm signed a 10-year expansion lease for the entire 21st floor. The company already occupies the entire 26th floor.
  • Event Financing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 115,630
notes
A $285 million loan over a five-year, interest-only term was provided for the refinancing of the retail condo. retail condo
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 40,000
notes
The fashion retailer inked a 15-year lease for its flagship store in the four-level retail condominium. The space was formerly occupied by Hugo Boss.
  • Event Sales
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 200,000,000
notes
In a buyout, the developer paid $200 million for the interests of two of his partners. The condo is located on the first four floors of the building. Office space on floors five through 26 is owned by Equity Office Properties.
  • Event Office Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 16,000
notes
The private equity firm is relocating from temporary space at 450 Lexington Avenue.
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 3,700
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 1 Donald O'Lenick, Llloyd Goldman's BLDG Management
  • Party 2 Oxxford Clothes
  • Party 2 Brokerage Murray Hill Properties
  • Party 2 Broker Robert Nager, Alyne Model, Bruce Goodman
notes
Menswear retailer will be moving into the former Chait Gallery space from 36 East 57th Street.
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,629
  • Publication Date 01/01/2005
  • Event Date 11/22/2004
  • Party 2 Pax
  • Party 2 Brokerage CBRE
  • Event Sales
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 450,570
  • Price $ 350,000,000
  • Price per foot $ 776.79
  • Publication Date 08/01/2004
  • Event Date 06/22/2004
  • Party 2 Equity Office, Feil Org., L. Goldman, J. Sutton and S. Chera
notes
Sam Zell~~#s Equity Office REIT buying office portion and others are buying retail portion

...retail on Fifth Avenue, could offset those costs.” 717 Fifth Avenue 685 Fifth Avenue For years it was known as the Gucci Building, but the 20-story...

...all of SL Green’s stake, including at 717 Fifth Avenue for $618 million. Finally, he is a partner on a major deal to demolish, then...

...unit, owned by Sutton and SL Green, at 717 Fifth Avenue. Tenants in the 56th Street space include Armani, Dolce & Gabbana and Oxxford Clothes...

...the ground floor Price: Acquired for $60 million 11. Address: 717 Fifth Avenue Landlord: Jeff Sutton and SL Green Tenant: Dolce & Gabbana signed lease Size: 18,400 square...

...small portion of the four-story retail space at 717 Fifth Avenue to SL Green Realty Corp., a REIT that has been moving aggressively into retail...
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