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Diamond District trophy hits market at $113M

B6 Real Estate Advisors (B6), the investment sales brokerage led by Paul Massey, Jr., as been retained to sell 576 Fifth Avenue, on the market for $113,000,000.

The 78,564 s/f, 12-story mixed-use office and retail property is located on the corner of Fifth Avenue and 47th Street in the Diamond District and adjacent to Rockefeller Center.

The building is on the market for the first time in over four decades. The seller is Severn Realty Partners, L.P.

576 Fifth Avenue consists of three retail floors, including the ground floor, mezzanine and lower level – which totals 6,247 s/f – along with ten office floors and a penthouse with exceptional views surrounding Manhattan’s Fifth Avenue. The property features over 150 ft. of wrap around frontage, with over 50 ft. on Fifth Ave and offers 18,263 s/f of air rights available for commercial use.

Paul Massey

“576 Fifth Avenue is an exceptionally attractive investment opportunity given its prime location on Fifth Avenue,” said Massey. “This is a rare, classic headquarters opportunity at the epicenter of Midtown Manhattan’s business district.”

The team at B6 handling the listing includes Zachary Redding, and Daniel O’Mahony.

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