Sovereign Partners Acquires Manhattan Office At 575 Fifth Avenue For $378 Million

The asset involved in the transaction is an office property located at 575 Fifth Avenue in Manhattan. The sale price was $378,000,000, encompassing a total square footage of 546,986, resulting in a price per square foot of $691.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $378,000,000
• Address: 575 Fifth Avenue
• Market: Manhattan
• Square Footage: 546,986
• Price Per Square Foot: $691
• Buyer: Sovereign Partners
• Seller: MetLife & Beacon Capital
• Seller's Representative: Gary Phillips, Will Silverman, Alana Bassen & Carly Shoulberg - Eastdil Secured

The transaction involved key representatives from Eastdil Secured, specifically Gary Phillips, Will Silverman, Alana Bassen, and Carly Shoulberg, who represented the sellers, MetLife and Beacon Capital, in this significant deal.