Real estate investor David Werner and a consortium of other investors have jointly bid $1.5 billion for the 1.1 million-square-foot office building 5 Times Square.
AVR Realty, a Yonkers-based real estate investment firm, bought the 37-story property near West 44th Street for $1.3 billion in 2006. The building’s anchor tenant is consulting firm Ernst & Young.
An AVR representative declined to comment to Crain’s, which broke news of the possible sale.
Earlier this year, Werner was rumored to be eyeing Times Square’s Milford Plaza Hotel, which those close to the deal said would sell for about $650 million. [Crain’s] — Guelda Voien