Done! Toy Building Closes for $480 M.

The Toy Building is a closed deal. L&L Holding Company paid $480 million for 200 Fifth Avenue to The Chetrit Group. The buy also includes a four-story building at 23 West 23rd Street, next-door to the Toy Building.

The Chetrit Group purchased the building in 2005 for $355 million with intentions to convert the trophy into condos.

In the last two months, Joseph Chetrit has been on a spending spree of his own. In the time that he went to contract on 200 Fifth Avenue, he's spent more than $500 million on other deals around the city.