645 Madison Avenue, a 164,615 square foot Class A office building in Manhattan’s iconic Plaza District, has been sold in a closed transaction for $201,000,000. The sale was completed on April 29, 2022, with Titan Golden Property Investor acquiring the property from Grossman Family and Richard Baker. The deal was facilitated by Eric Michael Anton and Nelson Lee from The Anton Group, representing Marcus & Millichap.

Summary of transation details

• Property Type: Office
• Transaction Amount: $201,000,000
• Address: 645 Madison Ave
• Market: Manhattan

Eric Michael Anton and Nelson Lee, Directors of the Global Capital Group at Marcus & Millichap, specialize in sourcing and raising foreign capital and played a key role in this successful transaction. The buyer, Titan Golden Property Investor, is a Chinese private equity firm that had previously been the ground lessee of the property. On the other hand, the seller, including the Grossman family and Richard Baker, CEO of Hudson Bay, had owned the property for over sixty years.

It's worth noting that in 2015, Mr. Anton facilitated the acquisition of the leasehold position by Nightingale Properties. This transaction marks the third large-scale ground lease closed by The Anton Group in the past six months. The team also recently sold the leasehold position at the Martinique Hotel in Herald Square and represented ownership of the office building at 580 Broadway in securing a lessee for a newly created 99-year ground lease.