Scandalios and Stephens of HFF broker $640 million sale of 5 Bryant Park

Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has completed the $640 million sale of 5 Bryant Park, a 35-story, 681,575 s/f class A office tower with frontage on Bryant Park, one of New York City’s premier greenspaces.

The HFF and JLL teams marketed the property on behalf of the seller, and procured the buyer, Savanna.

5 Bryant Park is located at 1065 Avenue of the Americas on the corner of West 40th and 6th Ave. in the Bryant Park submarket.  Bryant Park is the most densely populated urban park in the world with more than 800 daily visitors per acre and more than six million visitors per year.  The property is accessible via numerous subway lines, regional commuter rail services and bus services, and is adjacent to the newly opened Whole Foods in Bryant Park’s retail market.  Originally built in 1958 and renovated most recently in 2015, 5 Bryant Park features flexible floorplates ranging from 7,500 to 34,000 square feet, open floorplans, a recently renovated lobby and superior views of Bryant Park from every floor.  The property is 95 percent leased to a diverse mix of tech, financial, professional services and retail tenants.

The HFF investment advisory team representing the seller included senior managing director Andrew Scandalios and managing director Graham Stephens.  JLL’s investment advisory team consisted of international director Peter Nicoletti and managing director Anthony Ledesma.