RFR Sells 522 Fifth Avenue to Amazon for Undisclosed Amount

Amazon (AMZN) is making more moves in Midtown.

Aby Rosen and Michael Fuchs’s RFR has sold its 23-story office building at 522 Fifth Avenue for an undisclosed amount to the e-commerce giant, sources told Commercial Observer.

RFR declined to confirm the buyer or provide the purchase price, saying only that the buyer was an “owner-occupier.”

“We’ve always had a sharp eye for architecturally significant assets that stand the test of time,” Rosen said in a statement. “This sale speaks not only to the enduring appeal of the building, but to the strength of the Grand Central corridor and the growing demand for distinctive, high-quality opportunities in New York.”

SL Green (SLG) Realty, which purchased the $224 million senior loan on the office property in September 2024, said its loan “has been satisfied.”

A spokesperson for Amazon did not immediately respond to a request for comment. The Real Deal first reported the news.

RFR acquired the 600,000-square-foot building on the corner of Fifth Avenue and West 44th Street from Morgan Stanley (MS) in 2020 for $350 million, as CO previously reported.

Rosen faced foreclosure at the office building last year after failing to pay off the $224 million loan, and the property sat entirely vacant before receiving financing to renovate the property, CO reported.

RFR completed several renovations, including a redeveloped lobby, larger windows and more than 17,000 square feet of outdoor space for tenants, the landlord said.

Amazon buying another office building in the city — it dropped $1.15 billion to buy the former Lord & Taylor Midtown flagship in 2020 — comes as it’s been boosting its office presence after it significantly cut its office portfolio post-pandemic.

The tech giant inked a massive deal for 330,000 square feet at the Property & Building Corporation’s 10 Bryant Park and took 193,000 square feet at 237 Park Avenue.

Amazon called all of its corporate employees back to the office five days a week this year, but postponed that mandate after it found its existing office footprint couldn’t accommodate that.

News of the deal also comes after Amazon made some moves on the industrial front, announcing last month that it’s seeking a financing partner for a potential $15 billion plan to build nearly 80 logistics facilities in key U.S. cities and rural areas, CO reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.