CBRE announced the sale of 183 Madison Avenue, a 19-story office building located in Manhattan’s Midtown South neighborhood. CBRE’s Darcy Stacom and Ryan Spector represented the sellers, Tishman Speyer and Cogswell Lee Development, in the transaction. APF Properties purchased the property for $222.5 million.
“Tishman Speyer and Cogswell Lee’s expert stewardship of 183 Madison Avenue has made it a highly competitive asset in the sought-after Midtown South submarket,” said CBRE’s Stacom. “It is a great addition to APF’s Manhattan portfolio.”
183 Madison Avenue, which sits on the Southeast corner of Madison Avenue and 34th Street, was acquired by Tishman Speyer for $185 million in 2014. Current tenants at the 272,000-square-foot property include fashion company Dreamwear, which recently expanded to two floors at the building, architecture firm Spector Group and furniture retailer Domus Design Center.
“Tishman Speyer and Cogswell Lee’s expert stewardship of 183 Madison Avenue has made it a highly competitive asset in the sought-after Midtown South submarket,” said CBRE’s Stacom. “It is a great addition to APF’s Manhattan portfolio.”
183 Madison Avenue, which sits on the Southeast corner of Madison Avenue and 34th Street, was acquired by Tishman Speyer for $185 million in 2014. Current tenants at the 272,000-square-foot property include fashion company Dreamwear, which recently expanded to two floors at the building, architecture firm Spector Group and furniture retailer Domus Design Center.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
