Kenneth Aschendorf and Berndt Perl’s APF Properties entered contract to pick up a Midtown office building along Madison Avenue from Tishman Speyer and Cogswell-Lee Realty for about $225 million, sources told The Real Deal.
The 19-story, 274,000-square-foot Art Deco property at 183 Madison Avenue has been on the market since August. Tishman Speyer and Cogswell-Lee, which paid $185 million for it in 2014, had hired CBRE to market it for sale.
If the deal closes, the price would come out to about $820 per square foot.
The property is 88 percent leased, with tenants such as architecture firm Spector Group and multiple fashion companies like Chantelle, Puig, Dreamwear and Mundi Westport.