An LLC has acquired 560 Fifth Ave., a historic five-story building built in 1907 located in the heart of the Fifth Avenue retail corridor for $38 million, or $2,800 per square foot. The sale represents the highest post-pandemic price per square foot for a full building on Fifth Avenue, according to Colliers, which helped to arrange the transaction. This is the first time the property has been sold in over 50 years and has been owned by the Riese Organization for the past several decades. The Colliers Capital Markets team was led by Zach Redding and Dylan Kane of the New York Capital Markets group. A CBRE team led by Daniel Kaplan represented the buyer, Major Capital LLC.  

The Real Deal reports that Japanese coffee company Geshary is the buyer. 

The 13,580-square-foot property includes over 125 feet of wraparound frontage on Fifth Avenue and West 46th Street, and has been home to retailer Oakley for over 10 years.