Major Capital Acquires Office/Retail Property On 5th Avenue For $38M

The property involved in this transaction is located at 560 5th Avenue in Midtown East, Manhattan. It is an office/retail asset with a total square footage of 13,580. The sale price for this property was $38,000,000, resulting in a price per square foot of $2,798. The building square footage is 38,115, making the price per building square foot $996.

Summary of transaction details

• Property Type: Office/Retail
• Transaction Amount: $38,000,000
• Seller: Riese Organization
• Buyer: Major Capital
• Seller's Rep: Zach Redding & Dylan Kane - Colliers
• Buyer's Rep: Daniel Kaplan & Justin Arzi - CBRE

Zach Redding and Dylan Kane from Colliers represented the seller, Riese Organization, in this transaction. On the buyer's side, Daniel Kaplan and Justin Arzi from CBRE acted as the representatives for Major Capital.