Madison Avenue

Madison Avenue

New York, NY

Madison Avenue

655 Madison Avenue

Property Summary

Type: Class A Office
Office Location: New York, New York
Size: 221,645 square feet

Acquisition Summary

Capital Invested: $28 million
Ownership Interest Acquired: 21.4%

Transaction Summary

Madison acquired a 21.4% limited partnership interest in 655 Madison, a prime office building located on Madison Avenue in Midtown Manhattan. Through a financial intermediary, Madison was approached by a prominent New York philanthropic foundation seeking to monetize its limited partnership interest as part of an overall portfolio divestiture. Due to Madison’s passive investment temperament, willingness to adopt the existing partnership structure, and ability to act quickly and in confidence, the general partners of the transaction supported Madison’s acquisition of the seller’s interest in 655 Madison Avenue providing the foundation with the needed liquidity it was seeking.

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Madison Avenue
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