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Chelsfield

555 Eighth Avenue
New York, NY 10018
(212) 752-3977
Website

Chelsfield, in partnership with Olayan Group, acquired the office tower 550 Madison Avenue for $1.4 billion.

  • Event Sales
  • Address 550 Madison Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 852,830
  • Price $ 1,400,000,000
  • Price per foot $ 1,641.59
notes
The Sony building sold for $1.4 billion.
Manhattan, 10021
Chelsfield U.S.A, 15 EAST 69TH STREET C
The 18-story 1926 building covers an entire blockfront of Madison Avenue between 69th...
Manhattan, 10022
Chelsfield Group, OAC 550 OWNER LLC
The sponsor(s) filed plans on 12/08/14 for a condo project at 550 Madison...

02/01/2017
JLL also had a strong year, piling up 13 deals for its $3.2 billion total and jumping up one spot on the ranking. But its overall showing was boosted by one big deal: representing the Olayan Group and Chelsfield on their $1.4 billion Sony Building acquisition in June...

12/29/2016
The owners, Joseph Chetrit’s Chetrit Group and David Bistricer’s Clipper Equity, pulled the plug on a 96-unit, Robert A.M. Stern-designed condominium conversion of the upper floors of the iconic 37-story property at 550 Madison Avenue. When Olayan America, the U.S. investment arm of Olayan Group, entered contract in April, construction had already begun on the 170-key New York Masterpiece Hotel. The abandoned project was seen as a sign of a softening luxury market. Olayan secured a $570 million bridge loan for the purchase and hired a CBRE team to market 850,000 square feet of office for lease. Olayan’s minority partner on the purchase was Chelsfield, an asset manager active in Europe and Asia...
Manhattan, 10022
Chelsfield Group, OAC 550 OWNER LLC
The sponsor(s) filed plans on 12/08/14 for a condo project at 550 Madison...