HudsonPoint Capital and Sovereign Partners have joined forces to acquire 575 Fifth Avenue in Midtown, Manhattan.

The reporting comes from the Commercial Observer, which could peg the exact price point, but cited sources that said the deal is believed to be worth close to $385 million. That’s around the same price that MetLife paid to take the property off of Sterling Equities’ hands in 2005.

Gary Phillips and Will Silverman of Eastdil Secured, who have been marketing the property, were seeking at least $400 million.

Currently, Cushman & Wakefield is conducting leasing at the property, with 25,000 square feet of space available.

Amenities at 575 Fifth Avenue include a bike storage area, three conference rooms, an atrium, a Starbucks shop, as well as a lounge with a cafe.

Overall, office leasing in Manhattan remains strong, with JLL reporting that activity was almost nine million square feet in the first quarter. That’s slightly below the 9.1 million square feet posted in the same period last year. Also, vacancy dropped by 220 basis points year-over-year to 13.5 percent, while rents increased by 3.5 percent to $83.51 per square foot.