The companies are selling 183 Madison Avenue, a 274,000-square-foot Art Deco building at East 34th Street and Madison Avenue, Real Estate Alert reported. Tishman and Cogswell bought the building in 2014 for $185 million from Argentinian investment company IRSA.
The building is 88 percent leased, according to CoStar, and has an estimated value of $930 per square foot. Current tenants include engineering firm Spector Group, as well as several fashion companies like Chantelle, Puig, Dreamwear and Mundi Westport.
CBRE is marketing the property for Tishman and Cogswell. [REA] — Kathryn Brenzel