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Brokerage
Posted: September 18, 2018
Stacom and Spector of CBRE sell 183 Madison Avenue
for $222.5 million; Buyer was APF Properties
Manhattan, NY CBRE completed the sale of 183 Madison Ave., a 19-story office building located in the 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 Ave. 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 Ave., which sits on the Southeast corner of Madison Ave. and 34th St., was acquired by Tishman Speyer for $185 million in 2014. Current tenants at the 272,000 s/f property include fashion company Dreamwear, which recently expanded to two floors at the building, architecture firm Spector Group and furniture retailer Domus Design Center.
CBRE offers a 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.
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