American Exchange Time Acquires Property On 5th Ave For $18.72M

The 18,003-square-foot office condominium located at 420 Fifth Ave in New York, NY, 10018 was sold for $18,723,120. The buyer, American Exchange Time, acquired the property from the sellers, AM Property Holding & Quality Capital USA, making it the fourth and final office condo transaction at the address.

Summary of transaction details:

• Property Type: Office condominium
• Transaction Amount: $18,723,120.00
• Buyer: American Exchange Time
• Seller: AM Property Holding & Quality Capital USA
• Address: 420 5th Ave, New York, NY, 10018
• Market: New York
• Buyer's Rep: Wayne Siegel (LSL Advisors)

The sale was facilitated by a Cushman & Wakefield team led by John Ciraulo, Craig Waggner, and Doug Blankrot on behalf of the sellers. Wayne Siegel of Advisors Commercial Real Estate represented the buyer, American Exchange Time. The transaction involved signing contracts with three different buyers over three months and closing on all four floors over six months, amounting to $73,123,120 in total, at a rate of $1,015 per square foot.