Zohar Levy Of Summit Properties Acquires Leasehold Office Tower In Midtown Manhattan For $41.7M

The property involved in this transaction is a 42-story Art Deco office tower located at 444 Madison Avenue in Midtown Manhattan. The sale price for this leasehold was $41.7 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $41,700,000
• Buyer: Zohar Levy - Summit Properties
• Landlord: Savanna

This transaction occurred after Westbrook Partners defaulted on a $120 million mortgage, leading to Summit Properties acquiring the leasehold interest in the asset.