search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aBillionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and won
New York

Sapir and CIM’s 11 Madison hits market

Tenants at 29-story, 2.2M sf tower include Yelp, Sony

Sapir 11 Madison
Alex Sapir and 11 Madison Avenue

The Sapir Organization and CIM Group have placed their Art Deco office tower at 11 Madison Avenue on the market.

Sign Up for the undefined Newsletter

The two entities own the 29-story, 2.2 million-square-foot building, located next to Madison Square Park, through a partnership. They previously put the property up for sale in 2012, eventually pulling it off the market when they could not get the $1.5 billion asking price.

CBRE broker Darcy Stacom is handling the sale, with SL Green Realty said to be among the interested parties, Crain’s reported. The office building recently lured in a slew of technology and media tenants, including Sony and Yelp. Credit Suisse renewed its 1.2 million square feet at the tower in January 2014. [Crain’s] — Rey Mashayekhi

Tags
CIM GroupDarcy StacomSapir Organization