Daniel Ghadamian and Josh Zamir’s Capstone Equities has acquired a location which was once home to a Playboy Club at 5 E. 59th St. in Manhattan for $85 million, reports the New York Post. GreenOak joined Capstone in the purchase.
The property was sold by the Brazil-based Groupo Victor Malzoni, led by billionaire investor Paulo Malzoni.
The new owners are expected to completely overhaul the building and look for a high end retailer to occupy it along with office spaces.
The building comes with 47, 000-square feet of space and air rights for adding another 22, 000 feet.