Printer Friendly

Rockefeller Foundation buys five floors at 420 Fifth Ave.

With the purchase of five floors of 420 Fifth Avenue, the Rockefeller Foundation announced it will move its New York operations - the home office of the organizations -- to an 87,500square-foot office condominium in the Fifth Avenue property.

One of America's oldest philanthropic organizations, the Rockefeller Foundation was endowed by John D. Rockefeller and chartered in 1913 "to promote the well-being of mankind throughout the world." Today, the foundation offers grants in three principal areas: international science-based development, the arts and humanities and equal opportunity. The foundation also has smaller grant programs in international security and U.S. school reform, and operates a study and conference center in Bellagio, Italy.

This transaction brings 420 Fifth Avenue to approximately 90 percent occupancy in the office tower, continuing an aggressive and innovative marketing strategy developed by senior advisor Eddy Cogan for The Hammerson Group.

420 Fifth Avenue, a 600,000-squarefoot office building, is the first major Midtown property to condominiumize office space.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:office building in New York, New York
Publication:Real Estate Weekly
Date:Apr 28, 1993
Words:160
Previous Article:Law firm expanding.
Next Article:Law firm doubles space.
Topics:


Related Articles
Weatherall Green Smith named international rep at 712 5th.
Columbia House takes 132,000 sf.
Law firm renews, expands for 98,000 sf at Rock Ctr.
Morgan Stanley expands.
Law firm expanding.
TV production company signs 72,000 sf lease.
New York markets still a tale of two cities.
Cohen completes leases at 623 Fifth Avenue.
CBRE wins 420 Fifth assignment.
Rock Center makes room for investors.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters