Argento SC Acquires Office Condo At 420 Fifth Avenue For $18.7M

420 Fifth Avenue, Manhattan, NYC, NY, USA

$18,723,120

$1,040/SF

Building Size

18,003 SF

Asset Type

Mixed-use

Closing

Oct 31, 2018

AI

Located at 420 Fifth Avenue, 15th Floor in Midtown, NYC, an office condo was recently sold in a closed transaction. The property, spanning 18,003 square feet, was purchased by Argento SC for a total price of $18,723,120. With a price per square foot of $1,040, the sale marks a significant transaction in the Midtown market.

Summary of transaction details

Property Type: Office Condo
Transaction Amount: $18,723,120
Date: 11/01/2018

The seller of the office condo was AM Property Holdings, represented by Paul and Nathan Wasserman. On the buyer's side, Argento SC was advised by Wayne Siegel and Howard Rosenblum from Advisors CRE. The transaction was facilitated by the seller's representatives, James Nelson and Henry Post from vison_young_global, as well as John Ciraulo and Craig Waggner from Cushwake.

This sale presents a substantial opportunity for the new owners, Argento SC, to establish their presence in the prime Midtown location. The transaction testifies to the strength of the real estate market in the area and the confidence in this particular asset.