527 5 Avenue
Grand Central, Manhattan
Parcel ID (BBL): 1012780069
Owner: Namdar Realty Group
Acquired: June 26, 2023, $107.6 million
Debt: January 29, 2026, $172.4 million
Built: 1958
Renovated: 1959
SF: 271,266
Dwelling units: 0
No. of buildings: 1
Class: Office with Comm — 7 to 19 stories (O6)
Floors: 19
Transactions:
• Namdar Realty Group, Empire Capital Holdings and Mason Asset Management borrowed $172.4 million from Reznik Paz Nevo Trusts for 529 5th Avenue and 587 5th Avenue, Grand Central, Manhattan on January 29, 2026.
• Namdar Realty Group and Empire Capital Holdings borrowed $111.2 million from Reznik Paz Nevo Trusts for 529 5th Avenue and 587 5th Avenue, Grand Central, Manhattan on September 27, 2023.
• Namdar Realty Group and Empire Capital Holdings borrowed $71.5 million from Deutsche Bank for 529 5th Avenue, Grand Central, Manhattan on June 26, 2023.
• Silverstein Properties sold 529 5th Avenue, Grand Central, Manhattan for $107.6 million to Namdar Realty Group and Empire Capital Holdings on June 26, 2023.
• Silverstein Properties borrowed $122 million from JPMorgan Chase for 529 5th Avenue, Grand Central, Manhattan on December 18, 2020.
Development:
• Joshua Kashanian filed major alteration job M01168823 for 22,368 sqft 56 building with 0 apartments in Grand Central, Manhattan, on March 12, 2025.
• Bill Dacunto filed major alteration job 122181183 for 271,266 sqft B building in Grand Central, Manhattan, on October 30, 2014.
• Joshua Kashanian filed alteration job M01341176 for 8,480 sqft 56 building with 0 apartments in Grand Central, Manhattan, on April 13, 2026.
• Joshua Kashanian filed alteration job M01186254 for 37,000 sqft 56 building with 0 apartments in Grand Central, Manhattan, on April 08, 2025.
• William Laffey filed alteration job M01114637 for 202 sqft building with 0 apartments in Grand Central, Manhattan, on October 11, 2024.
• Joshua Kashanian filed alteration job M01087642 for 12,000 sqft 56 building with 0 apartments in Grand Central, Manhattan, on September 18, 2024.
• Joshua Kashanian filed alteration job M01060506 for 1,750 sqft COM building with 0 apartments in Grand Central, Manhattan, on June 11, 2024.
Most recent Schedule of Occupancy
Violations:
According to city public data, the properties have received $5,000 in ECB penalties and $23,950 in OATH penalties in the last year.