NEW YORK CITY—Reliable industry sources confirm to GlobeSt.com EXCLUSIVELY that 730 5th Ave., also known as the Crown Building, is quietly being marketed for sale, with bids due next month. The asset previously was known as the Heckscher Building.
Prices being offered for the over 360,000-square-foot tower are reportedly reaching the stratosphere of up to $1.8 billion, sources reveal, though GlobeSt.com was unable to confirm that information at press time.
Jointly owned by Winter Properties and Spitzer Enterprises, the building was last acquired in 1991 for $95 million. The 25-floor neoclassical tower sits at the Southwest corner of 57th street.
A spokesperson for Spitzer Enterprises did not respond to a request for comment by press time while Winter Properties could not be reached. The identity of any brokers working on the deal also was not known at press time. GlobeSt.com will provide updates as they become available.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
