Reka Darida Foundation Buys Mixed-Use Building On Madison Ave For $10.2M

The mixed-use property at 1065 Madison Ave, located in New York, NY, 10028, was sold for $10,200,000. Spanning 5,880 square feet, the building offers retail spaces on the ground and second floor, along with three full-floor apartments on upper levels. Positioned near the Metropolitan Museum of Art, this five-story building provides an opportunity for conversion into a fully commercial structure, benefiting from 20 feet of street frontage on Madison Avenue.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $10,200,000.00
• Market: New York
• Address: 1065 Madison Ave, New York, NY, 10028
• Buyer: Reka Darida Foundation
• Seller: 1065 Madison LLC
• Square Footage: 5,880
• Buyer's Representative: Nicholas "Nick" Judson (Judson CRE)
• Brokers: Stephen H. Judson, Helene Wall Fagan, Stuart S. Ellman

Nicholas Judson acted as the buyer's representative in this transaction, facilitating the acquisition on behalf of the Reka Darida Foundation. On the other side, 1065 Madison LLC, the seller, was internally represented by its managing agent, Judson Realty. The property's location between East 80th and 81st Streets places it conveniently near the well-known Metropolitan Museum of Art, adding to its desirability and potential for future development.