NYC property will come to market early in 2019
.jpg)
An iconic piece of New York real estate is set to be brought to market early in 2019.
The 711 Fifth Avenue property known as the Coca-Cola Building has been owned by the beverage manufacturer since it acquired Columbia Pictures in 1983.
But the firm has decided that it is not necessary to maintain its investment in the building to support its activities in the city, so it has retained global real estate firm Cushman & Wakefield to sell it.
“711 Fifth Ave. is one of Manhattan’s best kept secrets, a premier boutique gem with a rich history that dates back to 1927,” said Doug Harmon, Chairman, Capital Markets, Cushman & Wakefield. “We look forward to working with The Coca-Cola Company as we seek a new owner for this world class offering.”
The 19-floor, mixed-use property is located on the southeast corner of Fifth Ave. and East 55th Street and consists of 354,000 square feet primarily used for office and retail space.
Coca-Cola Co. has hired @CushWake to sell their historic Fifth Avenue tower in midtown #Manhattan. Doug Harmon, Adam Spies & Kevin Donner are leading the marketing of the Coca-Cola Building via @Bloomberg https://t.co/hxxvAREwJR #CRE
— Cushman & Wakefield (@CushWakeNYC) December 10, 2018
