521 Fifth Ave.
NEW YORK CITY—Savanna has acquired 521 Fifth Ave. from SL Green Realty Corp. and Plaza Global, a venture between Quantum Global Real Estate and LaSalle Investment Management, for $381 million. The 498,711-square-foot office and retail building is located at the intersection of Fifth Ave. and 43rd St.
The buyer, a New York City-based real estate investment firm, is also planning substantial capital improvements followed by a strategic leasing campaign. Referred to as the Lefcourt National Building, the 39-story, mixed-use tower was built in 1929.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
