RXR Baupost Elliott Investment Management Purchases 590 Madison Avenue From STRS Ohio For $1.1B

The property involved in this transaction is a mixed-use asset located at 590 Madison Avenue in Manhattan. It was sold for a price of $1,100,000,000, consisting of 1,031,089 square feet, resulting in a price per square foot of $1,066.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,100,000,000
• Address: 590 Madison Avenue
• Market: Manhattan
• Square Footage: 1,031,089
• Price per Square Foot: $1,066
• Buyer: RXR, Baupost & Elliott Investment Management
• Seller: STRS Ohio
• Broker Representatives: Adam Spies, Douglas Harmon, Adam Doneger, Joshua King, Marcella Fasulo & Avery Silverstein - Newmark

The transaction was executed by a consortium of buyers including RXR, Baupost, and Elliott Investment Management, with the seller being STRS Ohio. The deal was facilitated by a team of brokers from Newmark, ensuring a seamless process throughout the transaction.