NEW YORK CITY—The Crown Building, a cornerstone of Fifth Ave. that sits just two blocks from Central Park, might be sold in pieces to multiple buyers—including a New York condo developer and a Russian billionaire.

The New York Post reports that developer Michael Shvo is working with billionaire Vladislav Doronin of Amanresorts in an attempt to buy most of the iconic gold-roofed property that overlooks Central Park. The price for the 290,000 square feet on the 4th through 24th floors is said to be about $500 million, or $1,724 per square foot. The Post says there is a good chance that Shvo's deal for most of the building at the southwest corner of Fifth Ave. and 57th Street would close simultaneously with the building's $1.775 billion sale which has been forecast by the business media. The 25-floor neo-classical office building was constructed in 1921 by Warren & Wetmore and last changed hands in 1991 for $95 million.

Late last year, a deal was struck by the current owners to sell the entire building to General Growth Properties. The buyer was expected to put event more emphasis on bolstering the building's prime retail space. The asset at 730 Fifth Avenue was marketed by Douglas Harmon and Adam Spies of Eastdil Secured. The building already has marquee store tenants, but retail could expand through re-dedication of 110,000 square feet on the third floor.