NEW YORK | 800 5th Ave | 330 FT | FLOORS

[NYguy]

https://www.bloomberg.com/news/articles/...ion-sale-of-nyc-building-on-fifth-avenue

Spitzer Eyes $1 Billion Sale of NYC Fifth Avenue Building


1/27/25
Story by Natalie Wong

Spitzer and the co-owner of 800 Fifth Ave., Winter Properties, are marketing the property, which could be worth as much as $1 billion, according to people familiar with the matter. A Newmark Group Inc. team led by brokers Doug Harmon and Adam Spies are representing the owners in the sale, the people said, asking not to be named citing private information.

The current building is being used for rentals. But the site is being marketed as a major development opportunity for investors seeking to turn the property into for-sale residences. A developer would have the ability to build roughly 350,000 square feet (32,500 square meters) for residential use, the people said.

[ChiND]

This is very good news. This building is lame.

[mrnyc]

yeah that plain jane needs replaced with a jazzy jenny.

[NYguy]

Lol. And just in time to block some views from Related’s 625 Madison. I could see the next 220 CPS rising at this location. Especially if the site sells for anywhere near that $1 Billion.

[ChiND]

Originally Posted by NYguy

Lol. And just in time to block some views from Related’s 625 Madison. I could see the next 220 CPS rising at this location. Especially if the site sells for anywhere near that $1 Billion.

Do you think that they could build something that tall here? I assumed that 200 to 300 feet was the maximum that could be built on this site. Is this site within the UES Historic District?

[Crawford]

Yeah, I'm doubtful they could build something much taller than the existing building.

But if they can, the sales price will be astounding.

[Mulan]

If this property is to be sold for 1 billion us dollars. Then at least a 900-foot-high skyscraper would have to be built here. It's not worth paying that amount for anything less.

[Crawford]

I'd be floored if they could build that tall here.

And if they can, it'll be a lot more than $1 billion. This is an A+++ location. It's a much better location than 220 CPS, and that's the most expensive urban condo ever built.

[NYguy]

Originally Posted by ChiND

Do you think that they could build something that tall here? I assumed that 200 to 300 feet was the maximum that could be built on this site. Is this site within the UES Historic District?

I do. Mind you, a tower at this location doesn’t need to be that tall. But we’re talking one if the most valuable development sites. Nobody will but this without the intention of developing the very best that can be built. Perfect location for another Stern.

[ChiND]

So there are no height limits here? They could potentially build a 1,000'+ tower if they wanted to? This would be the epitome of luxury!

[NYguy]

https://therealdeal.com/new-york/2025/01/28/eliot-spitzer-shopping-208-unit-ues-rental-building/

Eliot Spitzer shops UES rental building
Condo conversion potential could boost 800 Fifth Ave. value to $1B





Jan 28, 2025
Holden Walter-Warner

The luxury apartment building could be worth as much as $1 billion, sources told Bloomberg.

The property is being marketed as a development opportunity for those looking to turn the site into the latest high-end condo building. The developer could build approximately 350,000 square feet for residential use, people familiar with the matter told the outlet.

Two years ago, Spitzer received the go-ahead from the Landmarks Preservation Commission to demolish an existing property at 985 Fifth Avenue to develop a 19-story luxury condo building with 26 units.

https://www.crainsnewyork.com/real-estate/spitzer-enterprises-explore-1-billion-sale-800-fifth-ave

Natalie Wong, Bloomberg
Jan 28, 2025

The current building is being used for rentals. But the site is being marketed as a major development opportunity for investors seeking to turn the property into for-sale residences. A developer would have the ability to build roughly 350,000 square feet for residential use, the people said.

Representatives for Spitzer and Winter didn’t immediately respond to a request for comment. A spokesperson for Newmark declined to comment. The Promote earlier reported that the firms were exploring a sale without disclosing potential valuation.
Investors have been seeking sites to build more luxury housing in Manhattan. Earlier this month, Soloviev Group purchased an office building on West 57th Street, known as Billionaires’ Row, with possible options for the site, including one that would include luxury condos, a hotel and retail space. Soloviev’s Michael Hershman said in an interview that there’s good appetite for high-end residences in the city.

Last year, Extell Development bought an office property on Madison Avenue, with plans to replace it with luxury housing and retail.

[UrbanImpact]

A Neo-Rococo or Beaux-Arts styled skyscraper by the likes of Robert A.M. Stern would be awesome here IMO.

[Busy Bee]

Spitzer's Supertall Erection.

I can't wait!

[Quixote]

Originally Posted by ChiND

I'd be elated with an elaborate limestone and brick, 300 foot tower by Stern.

If only he could design a building that actually looked old.

[ssh]

Ok, maybe The Roosevelt is actually worth more than $1b.

[NYguy]

This site is located directly across the park from 15 CPW. Imagine, you could have 15 CPW and 220 CPS anchoring southwestern Central Park, and 520 Park and 800 5th anchoring southeastern Central Park. Of course, that’s getting way ahead of the game. But it’s all just one big $Dollar sign.


https://therealdeal.com/new-york/2024/11/21/penthouse-at-zeckendorfs-520-park-avenue-sells-for-79m/

Zeckendorfs’ final penthouse at 520 Park Avenue sells for $79M
Duplex traded in all-cash deal, marking NYC’s fourth-priciest deal in 2024


By Jake Indursky
Research by Matthew Elo
Nov 21, 2024

It was said in 2019 that the family behind Zeckendorf Development would wait to get the “highest and best price for the crown jewel” penthouse at their 520 Park Avenue project.

That price appears to be $79 million. A deal for the duplex penthouse that sits atop the 54-story building closed this week in an all-cash transaction, according to a person familiar with the deal.

The sale is the fourth largest this year, after a $135 million sale at 730 Fifth Avenue (Aman New York) in July, a $117 million deal at 217 West 57th (Central Park Tower), and a two-unit sale at 220 Central Park South for $81 million in June. It was later revealed that developer Vlad Doronin was the buyer of his own unit at Aman New York.

[NYguy]

Just a look at where this site fits in the surrounding cityscape and development pipeline...



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[ChiND]

The City!

[NYguy]

Remains to be seen if this site will sell for a billion, but Vornado's 220 CPS has surpassed $3 billion in sales...


https://www.crainsnewyork.com/real-estat...t-unit-billionaires-row-condo-13-million


C. J. Hughes
Feb 3, 2025

Vornado is on the verge of crossing the finish line at 220 Central Park South and notching a $3.5 billion achievement.

The developer appears to have just a single apartment left to sell at the blockbuster Billionaires Row condo after unloading a two-bedroom unit last month, according to a Crain’s analysis of the city register.

The 70-story, 117-unit complex, which kicked off sales in 2015 and began finalizing purchases and moving in buyers three years later, expects a $3.5 billion haul once every sponsor unit is spoken for, according to filings with the state attorney general’s office.

And in a sign of how the tower’s fortunes have improved even as the overall residential market slowed, Vornado has boosted sales expectations at No. 220 over the past decade. Its initial 2015 offering plan anticipated a significantly lower $2.4 billion sell-out, filings show.

If this property is developed right, it too could get some of the best numbers in the marketplace.

[NYguy]

March 1, 2025


Imagining (hoping) a Stern designed tower takes this space. A natural setting for it...