{"id":1004170603,"date":"2017-03-29T04:50:11","date_gmt":"2017-03-29T12:50:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170603"},"modified":"2022-12-08T15:05:56","modified_gmt":"2022-12-08T23:05:56","slug":"jv-snatches-up-manhattans-iconic-220-fifth-ave","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-snatches-up-manhattans-iconic-220-fifth-ave\/","title":{"rendered":"JV Snatches Up Manhattan&#8217;s Iconic 220 Fifth Ave."},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<p><strong>New York<\/strong>\u2014Progress Capital Advisors has negotiated the transfer of the leasehold interest of 220 Fifth Ave. in Manhattan from Dino &amp; Sons Realty Corp. to a joint venture between Stellar Management and Imperium Capital.<\/p>\n<div id=\"attachment_1004170609\" style=\"width: 374px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004170609\" data-attachment-id=\"1004170609\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-snatches-up-manhattans-iconic-220-fifth-ave\/220-fifth-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1306497278&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"220 Fifth Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;220 Fifth Ave.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg?w=800\" class=\"wp-image-1004170609 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg\" alt=\"220 Fifth Ave.\" width=\"364\" height=\"273\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/220-Fifth-Ave..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 364px) 100vw, 364px\" \/><\/a><p id=\"caption-attachment-1004170609\" class=\"wp-caption-text\">220 Fifth Ave.<\/p><\/div>\n<p>Originally built in 1912,\u00a0the property is renowned for its Neo-Gothic architecture. The partners will be renovating the lobby and updating the building systems. The companies also plan on completing high-end, custom pre-builds for turn-key office space. The asset currently has six floors available for lease comprising 9,000 square feet each.<\/p>\n<p>&#8220;220 Fifth Avenue is a special building that has been in the Tomassetti family for over 30 years,&#8221; said Kathy\u00a0Anderson, president &amp; founder of Progress Capital Advisors, in prepared remarks. &#8220;It was important to find the perfect strategic partner to continue the family&#8217;s vision.&#8221;<\/p>\n<p>John Park, Leo Leyva, Jordan Fisch, Jeff Schecter and Patrick Quinn of Cole Schotz represented Dino &amp; Sons Realty Corp., while Ira Nesenoff and Ariya Waxman of Nesenoff &amp; Miltenberg represented Stellar Management and Imperium Capital.<\/p>\n<p><em>Image courtesy of Progress Capital Advisors\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset currently has six floors available for lease comprising 9,000 square feet each. <\/p>\n","protected":false},"author":746,"featured_media":1004170609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1600,21742,10,21747],"tags":[34658],"class_list":["post-1004170603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-stellar-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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