Zohar Levy Of Summit Properties Acquires Leasehold Office Tower In Midtown Manhattan For $41.7M
444 Madison Avenue
$41,700,000
Building Size
—
Asset Type
Office
Closing
Oct 12, 2025
About this deal
AI
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.
The office sale at 444 Madison Avenue in New York, New York sold for $41.7M in 2025. 444 Madison Avenue is classified as Office on Traded. JLL appears on the sale alongside JLL. This page is the New York, New York file for the 444 Madison Avenue office sold: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else sold near 444 Madison Avenue around 2025. Published consideration for 444 Madison Avenue is $41.7M, dated 2025. Cite this Zohar Levy Of Summit Properties Acquires Leasehold Office Tower In Midtown Manhattan For $41.7M sale when underwriting similar office product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93