The office building at 11 Madison Avenue, once known as the MetLIfe Building, was initially intended to be the worlds tallest building. The Great Depression hit, plans changed, and the developers had to settle for what would become merely one of the more recognizable Art Deco buildings in Midtown Manhattan.
The building was completed for MetLife in three phases from 1932 through 1950, and in the 1990s the building was again redeveloped. In 1996 it was registered as a historic building.
MetLife retained ownership until 2003, when the Sapir Organization purchased the building for $675 million. In 2011 CIM Group paid $469 million for a 49 percent stake in the property; the other half was retained by the Sapir Organization. Over the years the building has become a haunt for several Fortune 500 companies, including Sony, Yelp, and Credit Suisse, which has been the buildings anchor tenant. It also houses renowned restaurant 11 Madison Park on its ground floor.
In 2013 CIM and Sapir flirted with the idea of selling, putting the building on the market for $1.5 billion, but they ultimately got cold feet. -WP
- Address 11 Madison Avenue
- neighborhood Flatiron
- borough Manhattan
- owner CIM Group
- floors 30
- Year Built 1932
- square feet 1,587,500
- block and lot 1-00854-7501
- BIN 1088910
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- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood NoMad
- Borough Manhattan
- Square feet 39,565
- Price per foot $ 95.00
- Publication Date 09/01/2017
- Event Date 08/08/2017
- Party 1 SL Green Realty, PGIM Real Estate
- Party 1 Brokerage SL Green Realty
- Party 1 Broker Natasha Brown, David Kaufman
- Party 2 Yelp
- Party 2 Brokerage CBRE
- Party 2 Broker Scott Gamber
- Event Sales
- Address 11 Madison Avenue
- Neighborhood Midtown East
- Borough Manhattan
- Square feet 2,300,000
- Price $ 1,040,000,000
- Price per foot $ 452.17
- Publication Date 09/01/2016
- Event Date 07/15/2016
- Party 1 SL Green Realty
- Party 2 PGIM Real Estate
- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 186,396
- Publication Date 06/01/2016
- Event Date 05/18/2016
- Party 1 SL Green Realty
- Party 2 Credit Suisse
- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 33,000
- Publication Date 09/01/2015
- Event Date 07/23/2015
- Party 1 Sapir Organization, CIM Group
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Zakery Snider, Brad Gerla
- Party 2 William Morris Endeavor
- Party 2 Brokerage Savills Studley
- Party 2 Broker Brian Goldman, Newmark Grubb Knight, John Mambrino
- Event Retail Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 9,000
- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 98,175
- Price per foot $ 72.00
- Publication Date 08/01/2008
- Event Date 06/22/2008
- Party 1 Sapir Organization
- Party 1 Brokerage CBRE
- Party 1 Broker Bradley Gerla, Howard Fiddle, Stephen Siegel
- Party 2 Enfatico
- Party 2 Brokerage CBRE
- Party 2 Broker Gregory Tosko, Mary Ann Tighe
- Event Retail Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 300
- Publication Date 09/01/2007
- Event Date 07/23/2007
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Jeff Winick, Darrell Rubens, Angellina De Richie
- Party 2 5th Avenue Chocolatiere
- Event Financing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Publication Date 11/01/2006
- Event Date 09/22/2006
- Party 1 Sapir Organization
- Party 1 Brokerage The Carlton Group
- Party 1 Broker Howard Michaels
- Party 2 Credit Suisse First Boston
- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 70,000
- Publication Date 03/01/2005
- Event Date 01/20/2005
- Party 1 IBM
- Party 1 Brokerage Grubb & Ellis
- Party 1 Broker Jeffery Rosenblatt
- Party 2 Weight Watchers
- Party 2 Brokerage Newmark Grubb Knight Frank
- Event Sales
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 2,200,000
- Price $ 675,000,000
- Price per foot $ 306.82
- Publication Date 01/01/2004
- Event Date 11/22/2003
- Party 1 MetLife
- Party 1 Brokerage Eastdil Secured
- Party 2 Tamir Sapir of Zar Realty Management Corp and David Werner