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    Olympic Towers

    641-645 Fifth Avenue
    New York, NY 10022
    Retail, Residential, Sales, Leasing/Rental, Condo

    641-645 Fifth Avenue is a four-building Fifth Avenue portfolio that includes the Olympic Tower at 641 Fifth Avenue near 51st Street, a building at 10 East 52nd Street and two mansions north of the tower. The Olympic Tower is a 51-story 805,342 square foot building completed in 1973. It has 226 residential units and one commercial unit. Olympic Tower was Midtowns first major mixed-use tower when it was finished in the mid-1970s In 2014 the Cheras Crown Acquisitions acquired a 49.9 percent stake in the four-building parcel in deal that valued the properties at about $1 billion, according to The Wall Street Journal. The retail tenants in the portfolio at the time of the acquisition included Armani Exchange, H. Stern, Versace and Cartier. The building attracted some media attention in 2013 when Alicia Heiniger, the daughter and heir of the late Rolex SA CEO Patrick Heiniger filed a lawsuit against his girlfriend, Nina Steven of accusing her of theft. Heiniger claimed that Steven stole works by Pablo Picasso, Andy Warhol, Jean-Michel Basquiat and Keith Haring. -GM

    • Address 641-645 Fifth Avenue
    • neighborhood Midtown
    • borough Manhattan
    • owner Crown Acquisitions
    • developer Victory Development, Arlen Realty & Development Corporation
    • owner entity OLYMPIC TOWERS CONDO
    • LIST/LAUNCH SALES 04/25/1985
    • floors 51
    • Year Built 1973
    • ag file plans 11/08/1984
    • AG FILE Link
    • residential units 226
    • total units 226
    • square feet 805,342
    • block and lot 1-01287-7501
    • BIN 1035481
    Condominium Units+
    • Event Sales
    • Address 645 Fifth Avenue
    • Neighborhood Midtown East
    • Borough Manhattan
    • Square feet 804,216
    • Price $ 651,600,000
    • Price per foot $ 810.23
    • Publication Date 09/01/2016
    • Event Date 07/15/2016
    • Party 1 Oxford Property Group
    • Party 2 Ontario Municipal Employees Retirement System
    notes
    A stake in the office building sold for $651.6 million.
    • Event Office Leasing
    • Address 645 Fifth Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 1,860
    • Publication Date 08/01/2010
    • Event Date 06/22/2010
    • Party 1 Olympic Tower Associates
    • Party 2 Servco
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Joseph Hilton, Yuan Tang
    notes
    The business services firm signed a five-year lease.
    • Event Office Leasing
    • Address 645 Fifth Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 153,405
    • Publication Date 08/01/2009
    • Event Date 06/22/2009
    • Party 1 Olympic Tower Associates
    • Party 1 Brokerage FirstService Williams
    • Party 1 Broker Harry Seherr-Thoss, Mark Jaccom, Robert Freedman
    • Party 2 NBA Properties
    • Party 2 Brokerage Newmark Grubb Knight Frank
    • Party 2 Broker Barry Gosin, Moshe Sukenik, Corey Borg
    notes
    The National Basketball Association subsidiary renewed its lease for 10 years. The tenant, which occupies the 14th through 20th floors, has a five-year option and can expand onto two additional floors. The NBA has been in the building for more than 30 years.
    • Event Office Leasing
    • Address 645 Fifth Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 14,132
    • Publication Date 02/01/2006
    • Event Date 12/23/2005
    • Party 1 Olympic Tower Associates
    • Party 1 Brokerage Grubb & Ellis
    • Party 1 Broker Harry Seherr-Thoss
    • Party 2 GV Distribution
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Harry Seherr-Thoss
    • Event Office Leasing
    • Address 645 Fifth Avenue
    • Neighborhood Plaza District
    • Borough Manhattan
    • Square feet 3,647
    • Publication Date 11/01/2005
    • Event Date 09/22/2005
    • Party 1 Olympic Tower Associates
    • Party 2 Allan Riley Company
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Harry Seherr-Thoss, D. West

    09/01/2016
    Trump’s first project, Trump Tower at 725 Fifth Avenue, was filed in 1980 and came on the heels of Aristotle Onassis and Arthur Cohen’s 1975 project Olympic Towers at 645 Fifth Avenue...
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