Crown Takes Hilfiger Site for $54M

NEW YORK CITY-Crown Acquisitions LLC purchased 25 W. 39th St. from the Tommy Hilfiger Corp. for $53.5 million, sources tell GlobeSt.com. Formerly known as the Engineering Societies’ Building, it is a 208,000-sf, 16-story building located between Fifth and Sixth avenues.

Crown, a New York City-based real estate development company, was represented by CB Richard Ellis’ Stephen B. Siegel and Rand Pear. Tommy Hilfiger was advised by CBRE’s Bruce Surry. “It’s a hidden gem,” Siegel tells GlobeSt.com, while declining to comment on specifics of the sale. Built in 1907, the building is an example of early 20th century commercial architecture and has “uniquely high ceilings,” he adds.