NEW YORK | 522 Fifth Avenue | FT | FLOORS

[ChiND]

It would be nice if Amazon redevelops this heap that it just bought from Aby. I didn't realize that this tower has 600k sf. Maybe Amazon could be the adjacent former Penn Club to add to the air rights.

https://therealdeal.com/new-york/2025/05/02/aby-rosens-rfr-sells-522-fifth-avenue-to-amazon/

Aby Rosen sells troubled Midtown office building to Amazon
RFR deals 522 Fifth Avenue for undisclosed price

[NYguy]

This was scheduled for a renovation not long ago, if it already hasn't been. It's a narrow site, directly next to 520 Fifth. I don't think it's big enough to build anything new, or of the size that Amazon would need. But they have been building a larger presence in Midtown, and on Fifth Avenue.

[ChiND]

With Amazon's deep pockets, you'd think that they'd want a nicer building that this.

[NYguy]

^ It's a prime location.


Apparently the reno never went through.








https://commercialobserver.com/2021/05/a...venue-retail-space-to-convert-to-office/

Aby Rosen’s RFR Buying 522 Fifth Avenue Retail Space to Convert to Office
Rosen plans to offer the entire 612,000-square-foot building to a single tenant.


By Lois Weiss
May 11, 2021

[ChiND]

If they bought the old Penn Club site and additional air rights, I think that they could build a decent tower. The footrprint isn't very small. It extends pretty deep to the west off of Fifth.

The total footprint here (in terms of north to south and east to west) seems to be about the same as that of 343 Madison.


KPF

The site also is much larger than the one for Aby's proposal next to the Chrysler Building.

[Busy Bee]

What's crazy is how old this building actually is. You'd never know it from its many exterior modernizations.

[Crawford]

The Penn Club is still around. It's one of the nicer university clubs. You can actually stay in the hotel rooms if you're a grad of some schools that have agreements with Penn.

Unfortunately, I doubt the current 522 Fifth gets replaced. But it's still good to see Amazon continuously expanding in Midtown.

[ChiND]

Originally Posted by Crawford

The Penn Club is still around. It's one of the nicer university clubs. You can actually stay in the hotel rooms if you're a grad of some schools that have agreements with Penn.

Unfortunately, I doubt the current 522 Fifth gets replaced. But it's still good to see Amazon continuously expanding in Midtown.

I meant the Princeton Club at 15 W 43rd, which is actually contiguous with the southwest corner of 522 Fifth's site.

Also, since Amazon is focused on this area, it would be a good candidate for 175 Park. I had thought of Blackstone, but I wonder if it's thinking about making the IBM Tower on 57th and Madison its HQ.

[NYguy]

Originally Posted by ChiND

If they bought the old Penn Club site and additional air rights, I think that they could build a decent tower. The footrprint isn't very small. It extends pretty deep to the west off of Fifth.

The total footprint here (in terms of north to south and east to west) seems to be about the same as that of 343 Madison.

A company like Amazon would want larger floorplates, not the boutique-like floorplates of 343 Madison.

[NYguy]

Originally Posted by Crawford

The Penn Club is still around. It's one of the nicer university clubs. You can actually stay in the hotel rooms if you're a grad of some schools that have agreements with Penn.

Unfortunately, I doubt the current 522 Fifth gets replaced. But it's still good to see Amazon continuously expanding in Midtown.

I think they’ve leased approaching 1 msf in the past year, and may still be short on space. But in other news, the food hall in their building at the former LT nearby opens soon.


https://nypost.com/2025/04/27/business/first-look-at-food-hall-inside-former-lord-amp-taylor/

The windows of the former Lord & Taylor department store will soon be lit up for the first time since it closed in 2019 — but shoppers and strollers will see not fashion, but food.

A hospitality company little-known in New York is launching a giant, 35,000 square-foot edibles emporium at Amazon-owned 425 Fifth Ave. this year

Amazon, which purchase the building for $1 billion in 2020, will be Shaver Hall’s landlord.

[NYguy]

MAY 2, 2025

[ChiND]

I think that this site is bigger than 343 Madison.

Amazon’s HQ buildings in Seattle don’t have big floor plates, nor do its new tower in Virginia or its new space in the HSBC tower.

[NYguy]

Originally Posted by ChiND

I think that this site is bigger than 343 Madison.

Amazon’s HQ buildings in Seattle don’t have big floor plates, nor do its new tower in Virginia or its new space in the HSBC tower.

343 Madison was possible with air rights. This is New York we're talking about, what they do in VA hardly matters. Amazon has a space crunch in the city. If they were to build a ground up tower, it would be for at least 1 msf, though they occupy more space than that.



https://www.crainsnewyork.com/real-estate/rfr-sells-522-fifth-ave-amazon

Amazon is expected to occupy the entire 23-story, 600,000-square-foot building at the corner of West 44th Street. The property is five blocks north of the former Lord & Taylor building at 424 Fifth Ave. that Amazon acquired for $1 billion in 2020 to use as its New York headquarters. Last month Amazon agreed to lease 330,000 square feet at 452 Fifth Ave., a building that used to house HSBC.

“This sale speaks not only to the enduring appeal of the building but to the strength of the Grand Central corridor,” RFR principal Aby Rosen said in a statement.

[NYguy]

Surprised they didn't scoop up 570 5th, just a couple of blocks north.


https://www.ainvest.com/news/amazon-avenue-land-grab-strategic-bet-york-office-future-2505/

Amazon’s Fifth Avenue Land Grab: A Strategic Bet on New York’s Office Future

Harrison Brooks
May 2, 2025

New York’s skyline is once again shifting as amazon expands its Manhattan footprint with the acquisition of the 600,000-square-foot office tower at 522 Fifth Avenue, just five blocks north of its existing New York headquarters. While the purchase price remains undisclosed—a deliberate move to avoid scrutiny—the deal underscores Amazon’s unwavering commitment to physical office spaces despite broader industry trends toward hybrid work. This strategic move, nestled in the heart of Midtown’s Grand Central corridor, raises critical questions about Amazon’s vision for its workforce, New York’s real estate market, and the risks of overcommitting to urban offices in a volatile economy.

Amazon’s purchase of 522 Fifth Avenue marks its second major Manhattan office acquisition since 2020, following its $1.15 billion purchase of the former Lord & Taylor building, now its New York headquarters. While the price for the newer property was not disclosed, the building’s 600,000-square-foot size suggests it could rival or exceed that prior investment. The seller, RFR Holdings, had faced financial struggles, including a defaulted $224 million mortgage that led to foreclosure threats before SL Green Realty stepped in to acquire the debt at a discount.

Amazon’s decision to anchor itself deeper in Midtown hinges on three pillars:

1. Location, Location, Location: The building’s proximity to Grand Central Terminal and its adjacency to the Lord & Taylor headquarters create a contiguous “Amazon Campus” in the city’s most transit-accessible district. This aligns with CEO Andy Jassy’s emphasis on hybrid work models, where employees can choose between remote and in-office days.

2. Employee Retention: The property’s historic renovation—including a reimagined lobby, expanded windows, and 17,000 square feet of outdoor space—reflects Amazon’s shift toward prioritizing employee experience over raw space. Post-pandemic, companies competing for talent are investing in amenities that rival suburban office parks.

3. Long-Term Growth: With over 1.5 million square feet of Manhattan office space now under its control, Amazon is doubling down on New York as a hub for tech talent, even as other firms downsize. This aligns with its $15 billion logistics expansion plan, which prioritizes urban last-mile delivery hubs.

[ssh]

Don't expect Amazon to do anything cool here, that's not their M.O.

[NYguy]

I would love to be wrong on this, but I’m not expecting a ground up tower here. Their space needs are too large to build a relatively small building on this site.

[ChiND]

This building has 600k square feet. If Amazon can buy the former Princeton Club, they
could add to it. I’d imagine that there are more air rights that they could get. They also could probably reach deals to cantilever over buildings on 44th St.

The Field Operations plan is going to make this part of Fifth Avenue really nice. It would make no sense to keep a very drab tower that Morgan Stanley didn’t find to be good enough.

Also, London’s iconic Cheesegrater is 600,000 square feet.

[ChiND]

The former Princeton Club is for sale. If Amazon buys this, they'd have a l-shaped site with the former PC at the far southwest corner of it. Amazon could make the entrance to a new tower at 522 Fifth on 43rd Street with a very nice plaza, and they could put the elevator bank for a new tower on this site which would provide big, open floors for a new tower.

While the former PC is a depressing, postwar eyesore, the rest of this stretch of 43rd has stunning old buildings.

https://therealdeal.com/new-york/2025/02/18/mystery-lender-puts-princeton-club-up-for-sale/

The 10-story, 64,000-square-foot building at 15 West 43rd Street is being pitched for a variety of uses. Options include mixed-use combinations that range from office and hotel to residential rentals and condos, student housing or a United Nations headquarters, according to a marketing memo from CBRE. Marketing is being led by CBRE’s Dan Kaplan, who declined to comment.

The building, constructed in 1962 and renovated in 2008, has 52 guest rooms, two restaurants, a squash and fitness center, a library and business center and 16,000 square feet of meeting and events space.

Exactly who’s selling the former Ivy League club is unknown.

[NYguy]

^ It’s not sinking in to you somehow. That site, along with a few others on 44th street, were merged with the 520 site to creat that skyscraper.

And you don’t have a footprint or zoning to create the tower you posted.

[ChiND]

Why wouldn't Amazon want to redevelop that crappy building?