The Real Deal New York

Madison Belvedere rental building fetches $300M

December 05, 2012 03:00PM

The Madison Belvedere, a rental property located at 10 East 29th Street between Madison and Fifth avenues, has sold for $300 million, sources told the New York Post.

The property, owned by Rose Associates, was marketed by the Studley team of Woody Heller, Will Silverman, Eric Negrin and Daniel Parker. Invesco purchased the building on behalf of a client.

“It’s a great property and the tallest in the neighborhood, with very nice amenities, a well-appointed gym and an enormous roof garden,” Heller told the Post.

Rose Associates developed the 48-story building in 1998. shows that a studio unit came online with a $2,850 asking rent, a one-bedroom with a $4,850 ask and a two-bedroom with a price tag of $5,200. [NYP]Zachary Kussin