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Apollo Global Management Acquires Retail Asset At 697-703 Fifth Avenue For $218M With Eastdil Secured Brokers

Property Image
SOLD
$218,000,000
Will Silverman
Gary Phillips
+ 2

New York

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Retail26,000 SF
Sold 01/14/2026
the dealplayerscompscontact
Property Image
SOLD

Apollo Global Management Acquires Retail Asset At 697-703 Fifth Avenue For $218M With Eastdil Secured Brokers

697 5th Avenue

See Similar Deals
Retail26,000 SF
Sold 01/14/2026
Will Silverman
Gary Phillips
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$8,384
Total Square Footage:26,000 SF
Transaction Type:Sale

The asset involved in this transaction is a retail property located at 697-703 Fifth Avenue in the Manhattan market. It was sold for a total amount of $218,000,000 and comprises a total area of 26,000 square feet, resulting in a price per square foot of $8,384.

Summary of transaction details:

This transaction was facilitated by a brokerage team comprising Gary Phillips, Will Silverman, Carly Shoulberg, Jake Warner, and David Dorros, all of whom are affiliated with Eastdil Secured. Their collective efforts contributed to securing the deal for Apollo Global Management as the buyer.

Players

Gary Phillips
89 deals$34.9B volume
BROKER

Will Silverman
Eastdil Secured
72 deals$28.1B volume
BROKER


Carly Shoulberg
Eastdil Secured
9 deals$3.7B volume
BROKER

Jake Warner
Eastdil Secured
1 deal
BROKER

Eastdil Secured
BROKERAGE

Details

SOLD
IMAGE: Gary Phillips, David Dorros, Will Silverman, Carly Shoulberg & Jake Warner DATE: 1/14/2026 ADDRESS: 697-703 Fifth Avenue MARKET: Manhattan ASSET TYPE: Retail BUYER: Apollo Global Management BROKERS: Gary Phillips (@Garyty123), Will Silverman (@Wilverman1978), Carly Shoulberg (@Carlyy._), Jake Warner & David Dorros - Eastdil Secured (@EastdilSecured) SALE PRICE: $218,000,000 SF: 26,000 ~ PPSF: $8,384

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$774,507.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,033,431.22
Annual Debt Service$12,401,174.62