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650 Fifth Ave. Gets Ready For Its Close-Up

NEW YORK CITY-The $11 million all cash improvement project at the class A Midtown property results in new lobby, esplanade and elevators.

By Jacqueline Hlavenka | Updated on October 15, 2012

NEW YORK CITY-A prime Fifth Avenue building has gotten a new coat of paint. The building’s owner, the 650 Fifth Avenue Co., and its advisor SCOPA CRE, and its new leasing and property management team CBRE recently celebrated the official opening of the building’s lobby after cutting the ribbon on Oct. 11. 

“This has always been a property worth investing in, and we believe our investment dollars were well-spent, especially when you take into account the world-class team on the improvement,” says Houshang Ahmadi, president of the non-for-profit Alavi Foundation, majority owner and manager partner of 650 Fifth Co., noting that architectual firm Swanke Hayden Connell handled the work.

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