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Titan Golden Property Investor Acquires 645 Madison Ave Office Building In Manhattan For $201M

645 Madison Avenue
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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

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.

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Deals
  • Location
    645 Madison Avenue, New York City, New York 10022, United States645 Madison Avenue, New York City, New York 10022, United States
  • Sale Price
    $201,000,000$201,000,000
    $1,221 PPSF$1,221 PPSF
  • Area
    164,615 SF164,615 SF
  • Asset Type
    OfficeOffice
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Nelson Lee

Nelson Lee

Deals11
Financed$368.7M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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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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