Aurora Capital Associates Acquires Office At 597 5th Avenue From LNR Partners For $54M
597 5th Avenue
$54,000,000
$744/SF
Building Size
72,500 SF
Asset Type
Office
Closing
Mar 24, 2026
About this deal
AI
The property asset involved in the transaction is located at 597 5th Avenue in the Midtown East market. It is an office asset with a sale price of $54,000,000 and comprises a total of 72,500 square feet, resulting in a price per square foot of $744.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $54,000,000
- Address: 597 5th Avenue
- Market: Midtown East
- SF: 72,500
- PPSF: $744
- Buyer: Aurora Capital Associates – Robert Cayre & Brian Feldman
- Seller: LNR Partners - Barry Sternlicht
- Brokers: Andrew Scandalios, Drew Isaacson, David Giancola, Vickram Jambu & Jennifer Zelko - JLL
The key individuals involved in this transaction include Robert Cayre and Brian Feldman representing Aurora Capital Associates as buyers. Barry Sternlicht represents LNR Partners as the seller. The brokerage team comprised of Andrew Scandalios, Drew Isaacson, David Giancola, Vickram Jambu, and Jennifer Zelko facilitated the deal through JLL.
On the Map
$54,000,000
$744/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93