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General Motors Building

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

The General Motors Building is a 50-story office tower located at 767 Fifth Avenue in Manhattan, at the southeastern tip of Central Park. The white marble-clad skyscraper was designed Edward Durell Stone & Associates with Emery Roth & Sons and completed in 1968. It occupies a full city block, bounded by Fifth Avenue, Madison Avenue, 59th and 58th Streets. As of September 2015, it hosted one of worlds most trafficked retail shops in its basement, the Apple Store, which shoppers enter through a 32-foot glass cube via a spiral staircase. The GM building contains 1.7 million rentable square feet. Its tenants have included cosmetics firm Estee Lauder and law firm Weil, Gotshal & Manges. Since its namesake tenant, General Motors, sold the building in 1982, in has changed hands several times. Donald Trump and insurance company Conesco purchased it for $878 million in 1998. In 2004, New York-based real estate developer Harry Macklowe bought the building from Trump for $1.4 billion. He was forced to sell it in 2008, due to a credit squeeze, for $2.8 billion, to rival developer Boston Properties. As of 2015, Boston Properties owned the building in partnership with Chinese property tycoon Zhang Xin, and the Safra banking family. -TA

  • Year Built 1968
  • square feet 1,824,820
  • block and lot 1-01294-0001
  • BIN 1036082
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  • Event Office Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 77,700
  • Publication Date 02/21/2018
  • Event Date 02/15/2018
  • Party 1 767 Fifth Avenue Partners
  • Party 2 Estee Lauder
notes
The cosmetics company inked a lease in Midtown.
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  • Event Financing
  • Address 767 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 1,824,820
  • Price $ 2,300,000,000
  • Price per foot $ 1,260.00
notes
The investor secured $2.3 billion in refinances from four different financial institutions.
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  • Event Retail Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 45,000
  • Publication Date 03/01/2017
  • Event Date 01/15/2017
  • Party 1 Boston Properties
  • Party 2 Apple
notes
The tech giant signed a lease, expanding below its famous glass box store.
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  • Event Retail Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 53,000
notes
The athletic apparel company signed a lease in the old FAO Schwartz space.
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  • Event Office Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 20,483
  • Price per foot $ 120.00
notes
The firm signed an early renewal lease.
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  • Event Retail Leasing
  • Address 624 Madison Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 1,742
notes
The jewelry tenant signed a lease.
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  • Event Office Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 400,000
notes
The law firm signed a 15-year-lease renewal to occupy 10 floors at the General Motors Building.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,100
notes
The grain trading firm signed a short-term sublease and extended the agreement long-term with the landlord for the entire 15th floor.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 38,100
notes
The investment firm subleased the entire 16th floor of the Boston Properties-owned General Motors Building.
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  • Event Sales
  • Address 767 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 1,400,000,000
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  • Event Retail Leasing
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 66,465
notes
The toy retailer signed a five-year lease renewal for its three-floor space at the GM Building.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,500
  • Publication Date 06/01/2011
  • Event Date 04/22/2011
  • Party 1 Boston Properties
  • Party 2 Hovnanian Enterprises
  • Party 2 Brokerage Cushman & Wakefield
notes
The home builder signed a lease renewal on the 46th floor of the General Motors Building.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 9,270
notes
The investment firm signed a five-year lease renewal for the entire 18th floor.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 40,000
  • Publication Date 05/01/2010
  • Event Date 03/22/2010
  • Party 1 Boston Properties
  • Party 1 Brokerage CBRE
  • Party 2 Perella Weinberg Partners
notes
The financial services firm signed a lease for the entire 10th floor, adding to its existing space on the building's fourth and fifth floors.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 25,000
  • Price per foot $ 130.00
notes
The Brazil-based bank signed a 15-year lease for space on the 50th floor.around
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 114,300
notes
The car maker signed a 10-year lease renewal for the 14th through 16th floors. The lease includes a clause that prevents the tower from being renamed after another automobile maker, should one rent there.
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  • Event Sales
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,900,000
  • Price $ 2,800,000,000
  • Price per foot $ 1,473.68
notes
The tower sold for $2.8 billion, or about $1,474 per square foot. The deal broke the record for the highest price ever paid for a single office building, previously held by Kushner Companies' $1.8 billion purchase last year of 666 Fifth Avenue. Macklowe Properties sold the GM Building to help pay off overdue short-term debt on the seven Midtown office buildings Macklowe bought in a highly leveraged deal last year. Macklowe purchased the trophy tower for $1.4 billion in 2003. Boston Properties acquired a 60 percent stake in the GM Building, paying around $890 million in cash and assuming the $1.9 billion in debt, due to mature in 2017. The Boston Properties-led group also paid around $1.1 billion for three other Macklowe office properties in Manhattan (see below).
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  • Event Sales
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,000,000
  • Price $ 3,000,000,000
  • Price per foot $ 1,500.00
notes
Macklowe bought out the interest of his partner Jamestown for an undisclosed price, gaining sole ownership of the building for the first time. The building is now valued at approximately $3 billion.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 22,000
  • Price per foot $ 120.00
notes
The hedge fund, which has $4 billion in assets under management, signed a lease for space on the 13th floor. The fund relocated from 9,500 square feet at 712 Fifth Avenue.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 21,903
notes
Investment firm relocated from 712 Fifth Avenue to take space on the northeast corner of the 13th floor.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 14,251
notes
Technology firm took space on the northeast corner of the 45th floor.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 24,000
notes
Real estate development and management company moves its headquarters to the 21st floor of the building, which it acquired two years ago. The firm had been headquartered at Metropolitan Tower.
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 10,000
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 2 Sandy Weill
notes
Citigroup chairman takes space, possibly for a private firm he might launch after he retires from the company in April 2006.
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  • Event Retail Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 7,500
notes
Bank takes retail space on the Madison Avenue side of the building.
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  • Event Retail Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,800
  • Publication Date 08/01/2005
  • Event Date 06/22/2005
  • Party 1 Macklowe Properties, Jamestown
  • Party 1 Brokerage in-house
  • Party 1 Broker Billy Macklowe
  • Party 2 Porsche Designs
  • Party 2 Brokerage Isaacs & Company
  • Party 2 Broker Joel Isaacs
notes
Flagship will be first tenant in the expanded, two-story glass retail space
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The investment firm Icahn Enterprises completed a 27,808-square-foot deal at the General Motors Building at 767 Fifth Avenue that had the most expensive starting rent since 2008, according to a little-noticed survey released last month by commercial firm Jones Lang LaSalle...

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Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not...

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March, who leads the firm nationally, has brokered some of the firm's largest deals around the country and is active here as well. He and former Eastdil broker Wayne Maggin sold the General Motors Building to developer Harry Macklowe for a then-record $1.4 billion in 2003...

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The spread was fueled by very expensive direct space priced between $100 per foot and $140 per foot in trophy buildings such as 9 West 57th Street and the General Motors Building at 767 Fifth Avenue...

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"Only at the very high end of the market at very select buildings have the rents stabilized or gone up," Rosen said, citing Lever House, the Seagram Building, the General Motors Building and 450 Park Avenue...

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But Harry Macklowe's tenants at the General Motors Building are expected to pay more than two and a half times that...

Class A vacancy stabilizes
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