Brookfield Property Partners is selling its retail condo at 530 Fifth Ave., for $192 million, according to a source—the biggest retail trade of its kind in Manhattan since the beginning of the pandemic. The buyers are a partnership between Aurora Capital Assoc. and Edmond M. Safra.
Cushman & Wakefield's Adam Spies, Kevin Donner, Marcella Fasulo, Doug Harmon, Adam Doneger, Josh King and Ben Lushing brokered the sale.
The block-long retail condo spans 60,000 square feet with 200 feet of frontage along Fifth Avenue and is 100% leased to tenants including Duane Reade, Chase Bank, Ugg and Five Below.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
