La Solana Corp. purchased a building in Manhattan.

The Irvine-based company, the U.S. arm of Sumitomo Realty and Development Co. of Tokyo, has agreed to pay $500 million for the 41-story building at 666 Fifth Ave. from Integrated Resources, a financial services company, and Cohen Bros. Realty Corp., both based in New York. The purchase price, $365 a square foot, was described as “top dollar” by a Manhattan real estate broker. Acquisition of the premier building reflects the decision of La Solana’s Japanese corporate parent to press into commercial real estate investments in the United States. La Solana, established in 1972, had concentrated on residential development, building about 200 homes a year.