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:

• Property Type: Multifamily
• Transaction Amount: $49,000,000
• Address: 809 Madison Avenue
• Market: Lenox Hill, Manhattan
• Asset Size: 38,540 SF
• Price per Square Foot: $1,271
• Buyer: Harry Macklowe, Scott Shnay & SK Development
• Seller: Churchill Real Estate
• Seller's Representatives: James Nelson, Alexandra Marolda, Brent Glodowski & Eric Karmitz - Avison Young

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.