Joseph Moinian has officially closed on 417 Fifth Avenue.
The developer dropped $125 million for the 11-story, 392,000-square-foot building, according to city records.
The Observer reported way back in February when this deal went to contract. The building sits on the corner of 38th Street and some of its main tenants are a 10-year-old boy’s dream come true: Atari and Marvel Entertainment.
The biggest part of the deal may have been the 80,000-square-feet of precious air rights which were also included. The building, previously owned by Murray Properties and General Electric, was built in 1911.