Walk up to the corner of 58th and 5th and you’ll see it. That massive slab of white Georgia marble. Most people just call it the General Motors Building, or maybe they just know it as "the place with the big glass Apple cube out front." But 767 5th Avenue is way more than just a piece of prime real estate. It is, quite literally, one of the most valuable office buildings on the planet.
It feels different here. You’ve got the horse-drawn carriages clattering by Central Park across the street, the hushed luxury of Bergdorf Goodman next door, and then this 50-story giant just looming over everything. It’s a beast. Honestly, it’s the kind of building that makes you feel small and very, very broke all at the same time.
The Marble Giant: What Makes 767 5th Avenue Special
Architect Edward Durell Stone designed it in the late 1960s. He didn't want just another glass box. He went with those vertical piers of marble that make the building look even taller than its 705 feet. It’s a trick of the eye, really.
The building occupies an entire city block. Think about that. In Manhattan, owning a block is like owning a kingdom. It sits between 58th and 59th Streets, and between Fifth and Madison. That is the bullseye of the "Plaza District." If you are a hedge fund manager or a private equity titan, this is where you want your mail delivered.
People forget that this spot used to be the Savoy-Plaza Hotel. They tore down a classic piece of New York history to put up this modernist tower in 1968. At the time, folks were pretty upset about it. They thought it was too sterile. But now? It’s an icon. It’s the anchor of the Midtown skyline.
The Apple Factor
You can't talk about 767 5th Avenue without talking about Steve Jobs.
The Apple Store in the sunken plaza is probably the most photographed retail space in the world. It’s a 32-foot glass cube. When it first opened in 2006, it changed everything for the building’s owners, Boston Properties. Suddenly, a space that was basically just an empty, boring plaza became a 24/7 tourist destination.
I remember when they renovated the cube a few years back. They reduced the number of glass panes from 90 down to just 15. It sounds like a small detail, but it made the whole thing look seamless. It’s that kind of obsession with detail that defines the whole block. The "Big Apple" in front of the big building. It’s almost too on the nose.
The Business of Being the Best
The tenant list here reads like a "Who’s Who" of global finance. We are talking about names like Perella Weinberg Partners and BAM (Balyasny Asset Management). Weil, Gotshal & Manges, one of the most powerful law firms in existence, has been a cornerstone tenant for decades.
Rents here are eye-watering. You aren't paying for just four walls and a desk. You’re paying for the 10153 zip code. You’re paying for the view of Central Park that looks like a literal painting out your window. In 2026, even with all the talk about "remote work" and "the death of the office," 767 5th Avenue stays full. Why? Because status doesn't happen on Zoom.
✨ Don't miss: Why Trump Art of the Comeback is the Grittiest Business Book Nobody Actually Read
It’s about the "trophy" status. If you tell a client to meet you at the GM Building, they know you've made it. It’s shorthand for power.
A History of Owners and Ego
This building has been passed around like a high-stakes poker chip.
- General Motors built it (obviously) as their East Coast headquarters.
- Donald Trump and Conseco bought it in 1998 for about $800 million.
- Harry Macklowe bought it in 2003 for a then-record $1.4 billion.
- Finally, Boston Properties (and some partners) grabbed it in 2008 for roughly $2.8 billion.
Harry Macklowe’s story with this building is legendary in real estate circles. He basically bet the farm on it. He famously sat down with Steve Jobs and convinced him that a glass cube in the plaza was a good idea. That single move likely added hundreds of millions of dollars to the building's valuation. It turned a "dead" plaza into a revenue machine.
Why the Location at 767 5th Avenue is Unbeatable
Location is a cliché in real estate, but here, it’s a physical reality. You are at the intersection of "Old Money" (Upper East Side) and "New Money" (Midtown Finance).
- Proximity to the Park: You can walk out the lobby and be on a park bench in two minutes. That is a massive perk for stressed-out executives.
- Luxury Retail: You’re flanked by Tiffany & Co. and Bergdorf’s.
- Transportation: While it’s not right on top of Grand Central, it’s close enough. The N, R, and W trains are basically at the doorstep.
There is a sort of gravitational pull to this corner. Even the air feels more expensive.
Modern Upgrades in a Historic Shell
Boston Properties hasn't just sat on their hands. They've poured money into the lobby and the amenities. They know that to keep charging top-dollar rents, the building has to feel "tech-ready" while keeping its "marble-and-suit" soul.
They’ve updated the HVAC systems and the elevators. They’ve added high-end dining options. It’s a vertical city. You could theoretically spend your whole week inside 767 5th Avenue and never want for anything.
The Reality of 767 5th Avenue Today
Is it perfect? No.
Sometimes the plaza gets so crowded with tourists taking selfies at the Apple Store that it’s hard for the actual workers to get through. It can feel a bit like a theme park for capitalism. And let’s be real, the marble exterior requires constant, expensive maintenance to keep that gleaming white look.
👉 See also: Why 410 Terry Avenue N Seattle WA 98109 is the Real Heart of Amazon’s South Lake Union
But looking at the numbers, it doesn't matter. The building consistently commands some of the highest price-per-square-foot rates in the world. It’s a hedge against inflation. It’s a physical manifestation of the New York economy.
When you see it at night, with the lobby lights glowing and the Apple cube lit up like a lantern, you get it. It’s not just an office building. It’s a monument.
Moving Forward: What You Should Know
If you are looking at the Manhattan real estate market or just visiting, keep these points in mind regarding 767 5th Avenue:
- Visit the Plaza at night. The crowds thin out, and you can actually appreciate the architecture and the scale of the marble piers without being elbowed by a tourist.
- Observe the "Power Lunch" crowd. If you hang out near the entrance around 12:30 PM, you’ll see the reality of Manhattan’s financial engine in motion.
- Check the lower levels. Most people stay on the street level, but the retail and concourse areas often have high-end exhibits or pop-ups that are worth a look.
- Understand the investment. If you're a REIT investor, watching Boston Properties (BXP) is key, as this building is one of the crown jewels of their portfolio. Its occupancy rates are a bellwether for the entire Midtown "Trophy" market.
The skyscraper isn't going anywhere. It’s seen the 1970s fiscal crisis, the 2008 crash, and the 2020 pandemic. Every time, people say Midtown is over. And every time, 767 5th Avenue just stands there, white and tall, proving them wrong.
Actionable Insight for Professionals: For those in commercial real estate or urban planning, the success of 767 5th Avenue serves as a masterclass in "Placemaking." By transforming a neglected outdoor plaza into a global retail destination (The Apple Cube), the owners didn't just add a tenant; they increased the cap rate of the entire asset. When evaluating property, always look for the "dead space" that can be converted into a landmark destination.