Amazon has finalized the purchase of 522 Fifth Avenue, a 600,000-square-foot office tower in Midtown Manhattan, from RFR Realty. The acquisition, completed on May 2, 2025, adds to Amazon’s growing footprint in the city, following its $1 billion purchase of the former Lord & Taylor building and a 330,000-square-foot lease at 10 Bryant Park .
The 23-story building, constructed in 1896 and once serving as headquarters for JPMorgan and Morgan Stanley, was acquired by RFR in 2020 for $350 million . RFR had planned to lease the property to a single tenant, aiming to create a custom headquarters space .
The sale follows a period of financial challenges for RFR, including a $224 million loan default on the property, which led to a partnership with SL Green Realty for recapitalization efforts . Despite these challenges, the building’s prime location near Grand Central Terminal and Bryant Park made it an attractive acquisition for Amazon.
This strategic investment underscores Amazon’s commitment to maintaining a significant physical presence in New York City, even as other companies reconsider their office space needs in the post-pandemic era.
For more information on this acquisition, you can refer to the New York Post article: Amazon closes purchase of 522 Fifth Ave.
Excerpts from connectcre article by By: Paul Bubny
