Rialto Management Group Acquires Office Asset From Flagstar Bank For $34.5M In Manhattan

The asset involved in the transaction is an office property located at 185 Madison Avenue in the Grand Central market of Manhattan. The sale price was set at $34,500,000, with a total square footage of 79,961, resulting in a price per square foot of $431.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $34,500,000
• Buyer: Rialto Management Group
• Seller: Flagstar Bank
• Total Square Footage: 79,961
• Price Per Square Foot: $431
• Sale Date: June 27, 2025
• Market: Grand Central, Manhattan

Rialto Management Group, in partnership with Hines, acquired a loan from Flagstar Bank that was secured by Hilson Management’s office building. The completion of the deal was recorded on August 1, following the closing date.