- Amazon has acquired the vacant, 23-story office building at 522 Fifth Ave. from RFR Realty, although the purchase price has not yet been disclosed.
- The acquisition adds to Amazon’s growing Manhattan footprint, following its recent 330K SF lease at 452 Fifth Ave. and its $1B purchase of 424 Fifth Ave. in 2020.
- RFR had defaulted on a $224M mortgage tied to the building before settling with lender SL Green earlier this year, clearing the way for the sale.
Amazon’s hunger for Manhattan real estate continues unabated. The tech giant confirmed its purchase of 522 Fifth Ave., a historic 23-story office tower on the corner of 44th Street, from RFR Realty, reports Bisnow.
While details of Amazon’s plans for the 600K SF building remain under wraps, the acquisition strengthens its already significant presence along Fifth Avenue.
A Historic Blank Canvas
Built in 1896, the building was previously occupied by Morgan Stanley and J.P. Morgan Asset Management. It now stands vacant, offering Amazon a rare opportunity to reimagine the space to suit its needs. A company spokesperson noted Amazon “continuously evaluates” its office space needs but declined to comment further on future uses.
The Deal’s Background
RFR Realty, led by Aby Rosen and Michael Fuchs, purchased the building for $350M from Morgan Stanley in 2020, financing it with a $224M mortgage. After defaulting on the loan, RFR faced foreclosure action led by SL Green, which was ultimately settled this March. As part of the settlement, RFR had until June 25 to satisfy the debt, and the sale to Amazon appears to have fulfilled that obligation.
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Amazon’s Fifth Avenue Strategy
The 522 Fifth Ave. purchase fits into Amazon’s broader return-to-office push. Since late 2024, Amazon has either leased or bought about 1.5M SF of Manhattan office space. Just two blocks south, Amazon recently leased 330K SF at 452 Fifth Ave., and a few more blocks away sits its $1B New York headquarters at the former Lord & Taylor building, 424 Fifth Ave.
Why It Matters
Amazon’s real estate moves reflect growing confidence in Manhattan’s office market, especially near Grand Central Terminal. The acquisition also signals a commitment to maintaining a strong physical office presence even as other companies scale back. Meanwhile, the sale showcases ongoing investor interest in architecturally significant properties with prime locations, despite broader market headwinds.
What’s Next
With the building’s future still uncertain, observers will watch to see if Amazon renovates the landmark property for corporate offices, converts it for other uses, or integrates it into its broader New York real estate strategy. As Amazon solidifies its Fifth Avenue corridor presence, it could spur further revitalization in Midtown’s office market.
