IPA Capital Markets, a division of Marcus & Millichap, announced the refinancing of 580 Broadway, a 12-story Class A office and retail property located in Soho, Manhattan. The refinancing package totaled $50 million. The building was constructed in 1900 and is located between Houston and Prince Streets. Maxi Capital Group, Sabal Investment Holdings, and GDSNY provided the $50 million office loan for the project.
Vertical construction and façade installation are progressing on 520 Fifth Avenue, an 88-story residential supertall skyscraper in Midtown, Manhattan. Designed by Kohn Pedersen Fox and developed by Rabina, the 1,002-foot-tall structure will span 415,000 square feet and yield 100 condominium units, a residents-only amenity floor on level 88, boutique office floors, a private members-only club called Moss, and four cellar levels. The project is located at the corner of Fifth Avenue and West 43rd Street, one block north of Bryant Park.
Construction is rising on 665 Fifth Avenue, a 469-foot-tall commercial building that will house the US headquarters for Rolex in Midtown, Manhattan. Designed by David Chipperfield Architects with Adamson Associates as the architect of record and developed by the Rolex Realty Company, the 28-story structure will yield 199,000 square feet of office and retail space for the world-famous watchmaker. The property is located at the corner of Fifth Avenue and East 53rd Street.
International law firm Orrick, Herrington & Sutcliffe has renewed its lease at 51W52, also known as Black Rock, a 900,000-square-foot, 38-story building located at 51 West 52nd Street in Midtown, Manhattan. The firm will continue to occupy 144,312 square feet on floors 17 and 20 through 24 for the next 15 years. The building, originally designed by architect Eero Saarinen as the headquarters of CBS, recently underwent a $128 million renovation led by the building’s owner, HGI.
