1 East 57th St.

1 East 57th St., New York, NY
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This 15-story retail and office building occupies the northeast corner of 57th Street and Fifth Avenue, among the most valuable retail locations in the world. When Allied acquired the property, the first 11 floors were under long-term lease to Time Warner. Allied negotiated the buy-out of the Time Warner lease, vacated the upper floors, and subsequently sold the entire building to LVMH, the European luxury goods retailer at a then record price of over $2,400 per square foot.