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

452 5th Avenue
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This Office property located in NY was sold for $855,000,000 over 2 years ago. The brokers of the deal were Drew Isaacson, William (Will) Silverman, Steven Binswanger, Gary Phillips, and Graham Stephens

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.

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Deals
  • Location
    452 5th Avenue, Manhattan, New York, NY, USA452 5th Avenue, Manhattan, New York, NY, USA
  • Sale Price
    $855,000,000$855,000,000
    $988 PPSF$988 PPSF
  • Area
    865,000 SF865,000 SF
  • Asset Type
    OfficeOffice
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Drew Isaacson

Drew Isaacson

Deals3
Sold$2.1B

Graham Stephens

Graham Stephens

Deals2
Sold$945M

Gary Phillips

Gary Phillips

Deals39
Financed$10.4B

Agency

Eastdil Secured

Eastdil Secured

Agency
Deals187
Volume$58.2B

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Deal Summary

SALE IMAGE: Gary Phillips, Steve Binswanger, Andrew Chung, Graham Stephens, Eli Elefant, Drew Isaacson, & Will Silverman DATE: 12/05/2021 ADDRESS: 452 5th Avenue MARKET: Midtown ASSET TYPE: Office BUYER: Innovo Property Group SELLER: Property & Building Corp. Ltd. 🇮🇱 BROKERS: Gary Phillips, Steve Binswanger, Will Silverman, Drew Isaacson, Eli Elefant, Andrew Chung & Graham Stephens - Eastdil Secured (@EastdilSecured) SALE PRICE: $855,000,000 SF: 865,000 ~ PPSF: $988

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452 5th Avenue

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