Titan Golden Property Investor Acquires 645 Madison Ave Office Building In Manhattan For $201M
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This Office property located in NY was sold for $201,000,000 almost 2 years ago. The broker of the deal was Nelson Lee
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- Location645 Madison Avenue, New York City, New York 10022, United States
- Sale Price$201,000,000$1,221 PPSF
- Area164,615 SF
- Asset TypeOffice
- Parties1 Broker, 1 Agency
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Deal Summary
SALE
IMAGE: Eric Michael Anton, Nelson Lee & Richard Baker
DATE: 04/29/2022
ADDRESS: 645 Madison Ave
MARKET: Manhattan
ASSET TYPE: Office
BUYER: Titan Golden Property Investor
SELLER: Grossman Family & Richard Baker
BUYER’S REP: Eric Michael Anton (@EricMichaelAnton) & Nelson Lee (@Nelson_Lee_Irish_Triplets) (The Anton Group) (@AntonGroupNYC) - Marcus & Millichap (@MarcusMillichap_NY)
SALE PRICE: $201,000,000
SF: 164,615 ~ PPSF: $1,221
NOTE FROM @antongroupnyc:
Eric Michael Anton & Nelson Lee, Directors of the Global Capital Group at @marcusmillichap_ny, a group specializing in sourcing & raising foreign capital, successfully closed on the fee acquisition of 645 Madison Avenue, a 164,615 square foot Class A office building in Manhattan’s iconic Plaza District. The property had been subject to a ground lease.
The buyer, a Chinese private equity firm, had been the ground lessee. The seller, BLR Madison, including the Grossman family and Richard Baker, CEO of Hudson Bay, had owned the property for more than sixty years. In 2015, Mr. Anton structured the acquisition of the leasehold position by Nightingale Properties.
The Anton Group closed its third large-scale ground lease transaction in the past six months. In November, the team successfully sold the leasehold position at the 531-key Martinique Hotel in Herald Square - a process that also required a renegotiation of the existing ground lease. In March, The Anton Group represented ownership of the 141,000 square foot office building at 580 Broadway in securing a lessee for a newly created 99-year ground lease, while procuring the debt & equity for that transaction.
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