Innovo Property Group Acquires Office Building On 452 5th Avenue, Midtown For $855M

The sale of an office asset in Midtown, located at 452 5th Avenue, has been completed. The transaction took place on 12/05/2021. The property, spanning an area of 865,000 square feet, was sold for a total price of $855,000,000, translating to a price per square foot of $988.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $855,000,000
• Square Footage: 865,000
• Address: 452 5th Avenue
• Market: Midtown

The buyer of the property was Innovo Property Group, while the seller was Property & Building Corp. Ltd. The deal was facilitated by the brokers Gary Phillips, Steve Binswanger, Will Silverman, Drew Isaacson, Eli Elefant, Andrew Chung, and Graham Stephens from Eastdil Secured.

NOTE: No additional information is available regarding financing or any other specific details of the transaction.