Ash of Prince Realty Advisors arranges $68 million, 55,565 s/f retail condominium acquisition at 510 Sixth Avenue for Madison International

David Ash, principal and founder of Prince Realty Advisors, has arranged the acquisition of a 49.5%, non-controlling interest in a 55,565 s/f West Village retail condominium at 510 Sixth Ave., valued at $68 million, for Madison International Realty, a leading real estate private equity firm. Ash additionally worked with the seller, ARK Partners. "I have a long working relationship with president John Yoon and ARK Partners," said Ash. "So when this opportunity came up, I knew Madison was the right fit, and the first and only call I needed to make." Ronald Dickerman, Madison International founder and president, said, "This transaction fits well with Madison's distinct investment strategy of acquiring joint venture interests in select properties." Located between 13th and 14th Sts., 510 Sixth Ave. is at the cusp of the West Village and Chelsea, and close to the High Line and Union Sq. In addition, it is part of an academic hub near such neighboring institutions as New School, Cardoza School of Law, Parsons and Pratt Manhattan. Current tenants at the property include Urban Outfitters, Chipotle, and LensCrafters.