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809 Madison Avenue

Updated Oct 14, 2026

Harry Macklowe And SK Development Acquire Multifamily Property At 809 Madison Avenue For $49M
SOLDMultiFamily

Harry Macklowe And SK Development Acquire Multifamily Property At 809 Madison Avenue For $49M

809 Madison Avenue

$49,000,000

$1,271/SF

Building Size

38,540 SF

Asset Type

MultiFamily

Closing

Sep 18, 2025

About this deal

AI

The asset involved in the transaction is a multifamily property located at 809 Madison Avenue, Manhattan, which has a total square footage of 38,540. The property sold for $49,000,000, equating to a price per square foot of $1,271, in the Lenox Hill market.

Summary of transaction details:

The transaction was facilitated by Avison Young, with James Nelson, Alexandra Marolda, Brent Glodowski, and Eric Karmitz representing the seller, Churchill Real Estate. Nelson noted the successful outcome for the seller and the community, indicating the property had been vacant and will now be repositioned for future use in a prime area.

On the Map

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$49,000,000

$1,271/SF

MultiFamily

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Players

Eric Karmitz

Avison Young

Broker

$806.6M

vol

36 deals

Broker

Harry Macklowe

SK Development

Buyer

$488.6M

vol

8 deals

Buyer
SK Development
SK DevelopmentBuyer
Churchill Real Estate
Churchill Real EstateSeller
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.3K per square foot on a published $49M for 38,540 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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