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Brokerage
Posted: October 28, 2025
Avison Young brokers $49 million sale of residential portion of 809-811 Madison Ave.
Manhattan, NY Avison Young has arranged the sale of the residential portion of a 12-story mixed-use building located at 809-811 Madison Ave. on behalf of the seller, Churchill Real Estate. The 1920s-era building situated in the Upper East Side’s “Gold Coast” traded to developer Harry Macklowe in partnership with Scott Shnay and SK Development for $49 million.
Avison Young principal and head of U.S. investment sales James Nelson and Avison Young’s tri-state investment sales team including directors Alexandra Marolda, Brent Glodowski and Eric Karmitz represented the seller.
“We’re pleased to achieve a successful outcome for our client and the local community, which will see a historic property that has long sat vacant be repositioned for the future,” said Nelson. “This prime Madison Ave. and East 68th St. corner asset offers a multitude of value-add opportunities in one of the world’s premier residential and retail shopping corridors.”
According to Avison Young’s H1 U.S. Investment Sales report, 13.3% more multifamily properties traded in the first half of 2025 than the same period last year, totaling over $2.4 billion across 205 transactions.
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