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:
- Property Type: Office
- Transaction Amount: $510,000,000
- Buyer: Brookfield
- Seller: George Comfort, Jamestown & Wells Fargo
- Brokers: Adam Spies, Adam Doneger, Douglas Harmon, Joshua King, Marcella Fasulo, Avery Silverstein & Willis Robbins - Newmark
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
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