Maverick Real Estate Partners Acquires Office Building At 390 5th Avenue For $49.95M

The office building at 390 5th Avenue, located in the Garment District of Manhattan, was involved in a transaction where Maverick Real Estate Partners acquired the property for $49,950,000. The building encompasses a total area of 133,544 square feet, resulting in a price per square foot of $374.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $49,950,000
• Address: 390 5th Avenue
• Market: Garment District, Manhattan
• Buyer: David Aviram & Ted Martell - Maverick Real Estate Partners
• Seller: Hilson Management
• Square Footage: 133,544
• Price per Square Foot: $374

Maverick Real Estate Partners, represented by David Aviram and Ted Martell, took control of the office asset through an entity-level transaction, thereby resolving an existing dispute with Hilson Management related to a $47.4 million loan and claims of default.