Thor Equities has sold 693 Fifth Avenue, a boutique office tower located in the Plaza District, to affiliates of Paris-based holding company FIMALAC for $527 million. Located between East 54th and East 55th Streets, the 20-story, 105,500 sqf office tower is home to international fashion designer Valentino, London-based art gallery Carpenters Workshop, and David Chipperfield Designs. The property is situated near the Rockefeller Center, Central Park and the Museum of Modern Art and features a newly designed lobby, common areas and new elevators. Savitt Partners, which aided in the acquisition, will act as the exclusive leasing and management agency.
“693 Fifth Avenue is a real estate asset that can never be duplicated,” said Michael Dubin of Savitt Partners. “From its central location, in the heart of the Plaza District, to the high-profile tenants occupying retail and office space, this property is a true gem in the market. We believe that in working closely with FIMALAC we will be able to further enhance the value of this incredible asset.”
