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90 Fifth Ave. Purchased by RFR Holdings in a $40+ Mil Transaction

NEW YORK CITY-RFR also acquired the property's master lease from Thomson Financial, and signed a long-term re-lease with Forbes, Inc. Rents range up to $50 per sf.

By John Howe | Updated on November 03, 2000

NEW YORK CITY-RFR Holdings LLC has bought 90 Fifth Ave., an 11-story office building located at the northwest corner of 14th Street. It also bought its master lease from Thomson Financial and re-leased the property to Forbes Inc. The total value of the deal was more than $40 million.

Forbes had been leasing the top five floors from Thomson. The master lease had been set to expire in 2006. Forbes has inked a long-term lease for the entire property, which rents at rates from $45 per sf to $50 per sf.

“This is a great asset that requires very minor improvements in a area where more commercial tenants are being drawn as the office market’s boundaries push farther west,” says RFR chief operating officer Jason Brown.

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