Transactions - JUNE 23, 2014

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Thor Equities JV buys stake in $595m Manhattan mixed-use property

by Andrea Waitrovich

Rockwood Capital, Jamestown, Murray Hill Properties and Crown Acquisitions have sold a partial interest in 530 Fifth Ave., a 26-story office and retail building in Manhattan, to a partnership of Thor Equities, RXR Realty and General Growth Properties.

The sellers retained a 51 percent stake, while the Thor Equities joint venture acquired a 49 percent interest for approximately $291.6 million. The deal, which values the building at $595 million, or $1,106 per square foot, is expected to close in mid-September. The sellers were represented by

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