General Motors Building | The Real Deal New York

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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

Six top real estate players share the joys and pains of their first jobs
06/29/18
...known as “Billionaires’ Row.” In 2003, he purchased the General Motors Building for a record $1.4 billion, before piling on $7 billion in debt and selling it for...

The Closing: Dean Dakolias
06/18/18
...Macklowe that led to his sale of the General Motors Building, and owns CWCapital, the special servicer that sold Stuyvesant Town-Peter Cooper Village to Blackstone...

Six industry titans on the joys and pains of their first jobs
06/15/18
...known as “Billionaires’ Row.” In 2003, he purchased the General Motors Building for a record $1.4 billion, before piling on $7 billion in debt and selling it for...

Early work
...known as “Billionaires’ Row.” In 2003, he purchased the General Motors Building for a record $1.4 billion, before piling on $7 billion in debt and selling it for...

The Closing: Dean Dakolias
...Macklowe that led to his sale of the General Motors Building, and owns CWCapital, the special servicer that sold Stuyvesant Town-Peter Cooper Village to Blackstone...

Special masters eyed for Cohen probe all have RE fraud experience
04/20/18
...scheme in their own hunts to buy the General Motors Building in Midtown. (Trump and Conseco had sold the building to Macklowe in 2003 and Dick's...

Looking back on the “toughest woman in real estate”
02/23/18
...role in the development of Midtown’s iconic General Motors Building. And she pulled off the feat back in the 1960s, when women in offices...

Recalling the ‘toughest
woman in real estate’
...role in the development of Midtown’s iconic General Motors Building. And she pulled off the feat back in the 1960s, when women in offices...

NYC’s 10 most valuable retail leases of 2017
12/28/17
...FAO Schwarz occupied at the base of the General Motors Building, where it closed up shop in 2015 after 30 years in business, citing high rents. FAO...

NYC’s biggest real estate loans of 2017
12/28/17
...or at all and weren’t included either. General Motors Building and Owen Thomas 1. GM Building, $2.3 billion The GM Building made its owner, Boston Properties...

Manhattan’s priciest office leases of 2017
12/27/17
...old guard was left in the dust. The General Motors Building, which, despite Manhattan’s shift westward sits at what can still be considered the...

Fifth Avenue is the 2nd priciest US office market: report
12/11/17
...Avenue – home to premiere office addresses like the General Motors Building at 767 Fifth Avenue, 9 West 57th Street and 745 Fifth Avenue – had a vacancy rate during...

Freddie Mac ramps up multifamily lending
11/01/17
...particularly large loans – the $2.3 billion refinancing of the General Motors Building and the $1.2 billion provided for 245 Park Avenue – lending would be down on the quarter...

Is this Solow’s last stand?
10/30/17
...Harry Macklowe in a 2003 bid to buy the General Motors Building — and ultimately dropping a lawsuit against Macklowe — he still refused to accept that he...

Solow’s last stand?
...Harry Macklowe in a 2003 bid to buy the General Motors Building — and ultimately dropping a lawsuit against Macklowe — he still refused to accept that he...

From Bistricer to Rockpoint: The new Starrett City deal is a far cry from what might have been
09/26/17
...pugnacious investor who at one time controlled the General Motors Building, led the development of the complex. His family continues to own it today, though...

Harry Macklowe: I’m $400 million in the red!
09/06/17
...gains taxes related to the 2008 sale of the General Motors building for $2.9 billion. Teitler told the newspaper "these types of gains are never actually realized...

Flagships have survived the retail carnage – but are they bulletproof?
08/25/17
...apparel maker's new 53,000-square-foot flagship store in the General Motors Building at 767 Fifth Avenue, once home to FAO Schwarz, would be “the greatest retail store...

Venezuela bank sells Midtown East landmark to Chinese firm for $30M
08/14/17
...office developer and a partial owner of the General Motors Building. The six-story building is across the street from St. Patrick's Cathedral and adjacent to...

Génial! Estée Lauder renews giant space at GM Building
08/02/17
...Estée Lauder, Owen Thomas and General Motors Building (Credit: Macklowe Properties) Estée Lauder signed a lease renewal for 220,000 square feet at...

Can Wendy Silverstein rescue New York REIT?
...off the properties (Vornado had bid on the General Motors Building but lost out to Boston Properties). “She was the most tranquil person in the...

Fosun looking for $800M to refi 28 Liberty
07/19/17
...package led by Morgan Stanley at Boston Properties’ General Motors Building,  and the $1 billion package Deutsche Bank, Goldman Sachs and Morgan Stanley provided Crown Acquisitions...

Here’s how much money HNA Group’s
245 Park Avenue makes
07/17/17
...By comparison, net operating income at Boston Properties’ General Motors Building was recently calculated at $227.3 million and $184.3 million by lender Morgan Stanley and Fitch, respectively...

Here’s how much money the GM Building makes
07/13/17
...The General Motors Building and Mort Zuckerman (Credit: Getty Images) Harry Macklowe may not want to look at...

GM Building minority owner Soho China battles exiled Chinese billionaire in NYC
06/07/17
...office developer and a partial owner of the General Motors Building — is waging war against an exiled Chinese billionaire in New York. The company filed...
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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
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 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 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 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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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 26,000
  • Publication Date 08/01/2005
  • Event Date 06/22/2005
  • Party 1 Brokerage CBRE
  • Party 2 Glenview Capital
  • Party 2 Brokerage CBRE
notes
Hedge fund moves from 399 Park Ave
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  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 35,000
notes
Firm is scheduled to move in October 2005
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Manhattan’s mega leases
...amp; Manges’ $671 million deal at Boston Properties’ famed General Motors Building. Despite Weil, Gotshal’s pricey starting rent of about $110 per square foot, the white-shoe...

Ranking Manhattan’s
biggest retail buyers
...of the premier addresses of the city, the General Motors Building, from a modest space across from the Empire State Building. In the last three...

Super stores
...Avenue. Manhattan’s second-highest-grossing retail property is the General Motors Building, which rakes in $34.4 million. The Fifth Avenue tower, which is owned by Boston Properties...

High-end office space leads the way in first half of 2013
...which leased about 10,000 square feet in Boston Properties’ General Motors Building at 767 Fifth Avenue, for about $200 per foot. The deals eclipse last year’s priciest...

Office leasing drought breaks
...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...

Fifth Avenue’s storefront shuffle
...helped to reshape the street."   767 Fifth Avenue (General Motors Building) Address: 767 Fifth Avenue (General Motors Building) Landlord: Boston Properties Tenant: CBS Size: 6,514 square feet...

Eastdil Secured: A $15 billion enigma
...and former Eastdil broker Wayne Maggin sold the General Motors Building to developer Harry Macklowe for a then-record $1.4 billion in 2003. More recently, March had roles...

Beyond the ‘bottom-out’
...buildings such as 9 West 57th Street and the General Motors Building at 767 Fifth Avenue. The significant sublease availabilities are at 600 Madison Avenue and 555 Madison Avenue...

Burst of early renewals could hurt leasing in 2011
...said, citing Lever House, the Seagram Building, the General Motors Building and 450 Park Avenue. Prices in such buildings were above $200 per foot during the boom...

GM Building takes lead in commercial rents
...in May. But Harry Macklowe's tenants at the General Motors Building are expected to pay more than two and a half times that. The 1.9-million-square-foot...

Class A vacancy stabilizes
...Macklowe bought out his former partners at the General Motors Building. That Plaza District tower, purchased by Macklowe and others in 2003 for $1.4 billion, is now...