Rosen closes on 350 Madison for $261.5M

New York /
Mar.March 14, 2013 11:00 AM

Aby Rosen’s RFR Realty has closed on 350 Madison Avenue for $261.5 million, following reports that the firm had been weighing a $350 million purchase, the New York Observer confirmed.

The deal with Kenisco Properties, run by Nabil and Fouad Chartouni, includes an adjacent retail property, at 10 East 45th Street. RFR, however, declined to comment further to the Observer. Kenisco purchased the building for $194.5 million in 2005 from Monday Properties and Landis Group.

Jones Lang LaSalle‘s New York Capital Markets Group, composed of Richard Baxter, Ron Cohen, Scott Latham and John Caplan, was hired to handled the deal in February 2012, after  major renovations were made to the lobby and façade.

Previous reports suggested that construction work limited the 25-story, 394,000-square-foot Midtown office building’s occupancy to 70 percent. It is currently anchored by clothing retailer Paul Stuart. [NYO]Christopher Cameron


Related Articles

arrow_forward_ios
Deerfield's James Flynn and 345 Park Avenue South (Deerfield, Cure)
What life science tenants pay at 345 Park Avenue South
What life science tenants pay at 345 Park Avenue South
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
Clockwsie from top left: Aby Rosen with 980 Madison Avenue, 258-278 Eighth Avenue, 1 West Street and 511 Lexington Avenue (RFR, JJ Operating, Google Maps)
These were the largest Manhattan real estate loans in July
These were the largest Manhattan real estate loans in July
Dr. Samantha Boardman. Inset: Aby Rosen (Getty, iStock)
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen and 60 East 55th Street. (Getty, Google Maps)
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Aby Rosen and 522 Fifth Avenue (Getty, Google Maps)
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
From left: RFR’s Aby Rosen, Vanke US managing director Kai-yan Lee and 100 East 53rd Street (Photos via Tdorante10/Wikipedia and Getty)
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Aby Rosen and the Gramercy Hotel (Getty, Google Maps)
Solil Management sues to end RFR’s Gramercy Park Hotel lease
Solil Management sues to end RFR’s Gramercy Park Hotel lease
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...