Edmond M. Safra Of AVRS Partners Acquires 10.6% Stake In 343 Madison Avenue From Owen D. Thomas Of BXP
343 Madison Avenue
$212,000,000
Building Size
—
Asset Type
Office
Closing
Oct 14, 2026
About this deal
AI
The asset involved in the transaction is an office property located at 343 Madison Avenue in the Manhattan market. BXP sold a 10.6% stake in its $2 billion development, retaining control of the 46-story office tower.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2 billion
- Address: 343 Madison Avenue
- Buyer: Edmond M. Safra - AVRS PARTNERS
- Seller: Owen D. Thomas - BXP
Edmond M. Safra represents AVRS Partners in this transaction, while Owen D. Thomas represents BXP. This sale allows BXP to raise capital while maintaining control over the property.
On the Map
$212,000,000
Office
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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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93