Jonathan Bennett Of AmTrustRE Acquires Office Building From Alex Sapir For $217 Million In Midtown Manhattan

The property asset involved in this transaction is a 22-story office building located at 260 Madison Avenue in Midtown Manhattan. The building has a total square footage of 570,000 square feet and is currently 68% leased. The transaction was conducted at a price of $217 million, which equates to a price per square foot of $30,035.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $217,000,000
• Square Footage: 570,000
• Address: 260 Madison Avenue
• Market: Midtown Manhattan
• Buyer: Jonathan Bennett - AmTrustRE
• Seller: Alex Sapir - Sapir Organization
• Planned Investment for Repositioning: Up to $70 million

Key individuals in this transaction include Jonathan Bennett, representing AmTrustRE as the buyer, and Alex Sapir, representing the Sapir Organization as the seller. Barry Zyskind and Alex Sapir are also noted in this transaction. The deal is anticipated to close by the end of the year, with plans to enhance the property's occupancy rates.