It Was Worth $119M In 2015. Now This NYC Fifth Avenue Property Is Valued At $37.8M

A recent valuation shows one Fifth Avenue retail property is worth almost 70% less than it was in 2015 as the famous luxury retail strip continues to feel the pain of the coronavirus pandemic.
The value of landlord Solly Assa’s nine-story retail and residential building, once occupied by Domenico Vacca at 15 West 55th Street, has plummeted from $119M to $37.8M, The Real Deal reported, citing appraisal data from Trepp.
The building, which went up in 1915, sits a few blocks south of Central Park and also contains 36 luxury residential units, according to StreetEasy. 
The steep decline in value amid the coronavirus crisis may soften as…

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