GreenOak Real Estate along with Daniel Ghadamian and Josh Zamir’s Capstone Equities, are buying the former Playboy Club at 5 E. 59th St. for $85 million.
The seller is Brazilian-based Groupo Victor Malzoni led by billionaire investor Paulo Malzoni.
No brokers were involved and the deal for the 50,000 square-foot building works out to $1,700 a square foot. It sits across from the Fifth Avenue Apple store, which is one of the highest-grossing stores in the world, and next to the giant Crate & Barrel.
The Playboy Club was once filled with Mad Men and bunnies, but was lost to lenders in 1982 after women’s lib changed the status quo.
Now a nondescript office building for small tenants, the structure will likely undergo a complete repositioning to target a high-end retailer that could also use the upper floors for its offices. Any capital improvement program would also likely swap the black glass facade for more transparency.
None of the parties could be reached for comment.
