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NYC Building That Houses American Girl Going Up for Sale

The American Girl Place flagship store in New York City.

The American Girl Place flagship store in New York City.

Photographer: Cindy Ord/Getty Images
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SL Green Realty Corp. is preparing to market 609 Fifth Ave., the midtown Manhattan office and retail building that houses the American Girl Place toy store.

The 156,000-square-foot (15,000-square-meter) building on 49th Street may fetch about $600 million, based on nearby comparisons, reflecting demand for retail properties on the high-rent area of Fifth Avenue. The lease with Mattel Inc.’s American Girl expires in early 2018, offering an opportunity for a buyer to boost rents, said Darcy Stacom, a vice chairman at brokerage CBRE Group Inc., which is representing the seller.