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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.
- ◦Sale/Acquisition

