Tuesday, December 18, 2012

Friedland Properties Pays $141.5M for Madison Avenue Retail




National Commercial Real Estate News From CoStar Group





Friedland Properties Pays $141.5M for Madison Avenue Retail



Friedland Properties has purchased a 19,100-square-foot premier retail site located at 706 Madison Ave. in New York City from the Bank of New York Mellon Corp. for $141.5 million, representing a price tag of more than $10,000 per square foot for the above-grade space.

The storefront features 80 feet of frontage on famed Madison Avenue at the corner of 63rd Street in the Plaza District on Manhattan's Upper East Side. The property is a pre-war colonial...






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