Johann Rupert Expands Richemont Lease At 645 Fifth Avenue In Midtown Manhattan To 138485 Sf

The property asset involved in this transaction is located at 645 5th Avenue in Central Midtown, Manhattan. It is classified as an office space with a total square footage of 138,485. The building is owned by Crown Acquisitions and Oxford Properties Group.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 645 5th Avenue
• Market: Central Midtown, Manhattan
• Landlord: Crown Acquisitions & Oxford Properties Group
• Tenant: Johann Rupert - Richemont
• Previous Lease Size: 126,386 sf
• Current Lease Size: 138,485 sf
• Total Debt on Building: $1B
• Senior Loan Amount: $611M

Key individuals in this transaction include Johann Rupert, representing Richemont, which has expanded its lease at this location. Crown Acquisitions and Oxford Properties Group, serving as the landlords, manage the property associated with significant debt in commercial mortgage-backed securities.