Manhattan, NY Cushman & Wakefield has arranged the sale of a 9,302 s/f, mixed-use property located at 833 Madison Ave. The final sale price was $17.5 million.
Cushman & Wakefield’s Hunter Moss represented the seller, A. L. Holdings, Inc., in the transaction. A CBRE team led by Daniel Kaplan represented the buyer, Myles Madison, Inc.
“833 Madison presented the rare opportunity to acquire a premier mixed-use asset in one of the most prestigious retail corridors in the world,” said Moss. “Despite financing being a challenge, we were able to lead a highly competitive marketing process where we saw significant interest in the property and received multiple all cash offers. This sale is evidence that buyers are confident in Madison Ave.’s recovery.”
833 Madison is a 32-foot wide, five-story building comprised of two retail units, one office unit, two gallery units and six residential units. This purchase represents the completion of an assemblage of properties spanning 123 feet along Madison Ave. for the buyer.
The property is located in the heart of the Upper East Side, surrounded by an array of retail, dining and entertainment options. The asset located within walking distance to the 4, 5 and 6 trains and is within a 20-minute drive to LaGuardia Airport.
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