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New York & Tri-State  + Midtown New York  + Retail  | 
530 Fifth Ave. Manhattan RXR Realty

Brookfield Divests Fifth Ave. Condo in Manhattan’s Largest Retail Sale YTD

In what is reportedly the largest retail trade of its kind in Manhattan since the onset of the pandemic, Brookfield Property Partners is selling the retail condominium at 530 Fifth Ave. In Midtown for $192 million. The buyer is a partnership between Aurora Capital Associates and Edmond M. Safra, according to a source familiar with the transaction. 

Cushman & Wakefield’s Adam Spies, Kevin Donner, Marcella Fasulo, Doug Harmon, Adam Doneger, Josh King and Ben Lushing brokered the sale, the source said. The block-long retail condo spans 60,000 square feet with 200 feet of frontage along Fifth Avenue and is 100% leased to tenants including Duane Reade, Chase Bank, Ugg and Five Below. 

Located near Grand Central Terminal and Bryant Park, the 26-story 530 Fifth spans about 535,000 square feet, including its office component. The upper floors are owned by RXR Realty. 

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Cushman & Wakefield’s SpiesCushman & Wakefield’s Harmon

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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