Beacon Capital Partners and MetLife List Fifth Avenue Property for $400 Million
With the leasing market improving, Beacon Capital Partners and MetLife are once again attempting to sell their Fifth Avenue office tower, this time including the retail condo.
After an unsuccessful attempt to sell their Fifth Avenue office tower in 2022, Beacon Capital Partners and MetLife are once again listing the property for sale. The partners are seeking a price of over $400 million for the 40-story building at 575 Fifth Avenue. This is the same price they had in mind during their previous attempt, when they were only offering the 500,000-square-foot office condominium that they both own 50-50. This time around, the 40,000-square-foot retail condo at the base of the building is also included in the sale. The decision to include the retail condo in the sale may be due to the improving leasing market. According to sources, the partners are hoping to capitalize on the increased demand for retail space in the area. However, some industry experts are skeptical about the potential sale, citing the challenges of finding a buyer at the desired price. In response to the listing, a spokesperson for MetLife stated, "We continuously evaluate our real estate portfolio and determine the best course of action for our investments." Beacon Capital Partners declined to comment on the matter. Originally reported by The Real Deal: https://therealdeal.com/new-york/2025/09/16/beacon-capital-partners-and-metlife-list-575-fifth-avenue/