New York & Tri-State + Downtown New York + Office | August 9, 2018

Office Portion of 160 Fifth Reportedly Under Contract

The Simons Foundation is under contract to acquire the office portion of 160 Fifth Ave. from RFR Holdings, the New York Post reported. A major tenant at 160 Fifth with about 76,000 square feet, the nonprofit foundation established by Renaissance Technologies’ Jim Simons will pay $185 million for the 150,000-square-foot property’s offices.

RFR plans to hold onto the retail at 160 Fifth, the Post reported. Club Monaco currently occupies most of the retail space.

According to the Post, a Cushman & Wakefield team of Douglas Harmon, Adam Spies and Michael Collins is handling the sale of 160 Fifth’s retail, along with a JLL team.

The sale is expected to close in the early fall. Through a spokeswoman, RFR declined to comment on the Post report.

If the sale closes, it will represent the third sale of a Fifth Avenue office component recently, following trades at 666 and 685 Fifth.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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