Park Avenue Plaza Stake Sale
Under ownership transfer · New York · Last reported Apr 2026
Source: The Real Deal
Billionaire Chinese developer Zhang Xin, through her firm Closer Properties, sold her 49 percent interest in the office tower at 55 East 52nd Street (Park Avenue Plaza) to Steven Roth's Vornado Realty Trust. The deal valued the property at $1.1 billion and involved Vornado assuming $570 million in debt. Majority owner Fisher Brothers will retain joint control of the building after the sale closes,
- Status
- Prospective
- Sector
- Commercial, Road, Residential
- Location
- New York, United States of America
- Updated
- 22 Jul 2026
- Source
- The Real Deal
ConstructChat
Ask ConstructChat about Park Avenue Plaza Stake Sale
Pick a question to edit it, or write your own.
First answer free · no account
Project Information FAQ
Project Information
Participants
| Not available for this record. |
Status
Original status | under ownership transfer |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Billionaire Chinese developer Zhang Xin, through her firm Closer Properties, sold her 49 percent interest in the office tower at 55 East 52nd Street (Park Avenue Plaza) to Steven Roth's Vornado Realty Trust. The deal valued the property at $1.1 billion and involved Vornado assuming $570 million in debt. Majority owner Fisher Brothers will retain joint control of the building after the sale closes, expected by the end of the quarter. The building is nearly fully leased with major tenants and has no significant lease expirations until 2035. |
Original sector | Commercial |
Budget |
Location
Country | United States of America (USA) |
State | New York |
City | New York |
Source
Source | The Real Deal |
URL |
More Details
Record type | Project |
Sector | Commercial, Road, Residential |
Article published date | 2026-05-02 |
Research
Free account
View all details
You are reading the public part. A free account opens the rest:
- Every detail on this project
- News and media coverage
- Technical research
Free account · no card · lands you back on this project
More Commercial projects in United States
- Engineering, Procurement, and Construction of Third Bosphorus Bridge
- Tampa Bay Seawater Desalination Plant
- Portugues Dam, Ponce
- Sinking Creek Wastewater Treatment Plant Expansion, Tennessee
- Carlsbad Desalination Project, San Diego, California
- Joint Base Lewis-McChord
- Fort Riley Army Base, Kansas
- Fort Benning, Georgia