RXR partnered with Sagehall, led by Sush Torgalkar, to recapitalize the 475,000-square-foot office building at 530 Fifth Avenue in Midtown Manhattan. Sagehall invested $70m, and the partnership secured a five-year, $110m loan from ING Capital to reposition and upgrade the property. Currently 85% occupied, key tenants include Convene, Avison Young, and the NYC Police Foundation. The building also features a retail condo, with Thor Equities holding a 10% stake.
530 Fifth Avenue
