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63 Madison Avenue

Brookfield Acquires Office Asset In Midtown Manhattan For $510 Million From George Comfort Jamestown And Wells Fargo
SOLDOffice

Brookfield Acquires Office Asset In Midtown Manhattan For $510 Million From George Comfort Jamestown And Wells Fargo

63 Madison Avenue

$440,000,000

$517/SF

Building Size

850,000 SF

Asset Type

Office

Closing

Jun 4, 2025

AI

This transaction involves an office asset located at 63 Madison Avenue in the Midtown Manhattan market. The property was sold for $510,000,000, encompassing a total area of 850,000 square feet, resulting in a price per square foot of $600.

Summary of transaction details:

The brokers representing the transaction played a crucial role in facilitating the deal. Adam Spies, Adam Doneger, Douglas Harmon, Joshua King, Marcella Fasulo, Avery Silverstein, and Willis Robbins were all involved as representatives for Newmark, highlighting the strength of their team in managing this significant transaction.

Players

Adam Doneger

Newmark

Broker

$50.5B

vol

192 deals

Broker
Avery Silverstein
Verified Badge

Avery Silverstein

Newmark

Broker

$15.1B

vol

65 deals

Broker
Newmark
NewmarkBrokerage
Wells Fargo
Wells FargoSeller

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93