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635 Madison Avenue

635 Madison Avenue
New York, NY 10022
Office, Ground Lease

635 Madison Avenue is a 19-story, 176,530 square foot office and retail tower located between 59th and 60th streets and across the street from the GM building. It was completed in 1958. L&L Holding, headed by David Levinson and Robert Lapidus, acquired the ground under the Emery Roth & Sons-designed building in 2007 for $110 million. In 2011, Ashkenazy Acquisition, a New York City-based firm that invests in retail and office real estate, bought what was left of the ground lease, 44 years, from West Land. The ground lease expires in 2030 and includes one 21-year renewal extension option. The transaction took three years to close, eventually at $61 million, down from $70 million originally agreed. Ashkenazy assumed some securitized debt. In April 2014, SL Green Realty, the real estate investment trust (REIT), acquired the fee interest at the property for between $135 million and $145 million. Current retail tenants include British cosmetics firm Molton Brown and French crystal glassware manufacturer Baccarat. MK

  • Address 635 Madison Avenue
  • neighborhood Lenox Hill
  • borough Manhattan
  • owner Ashkenazy Acquisition, L&L Holding
  • owner entity 635 MADISON FEE OWNER
  • floors 19
  • Year Built 1958
  • square feet 176,530
  • block and lot 1-01374-0021
  • BIN 1040754
  • Event Financing
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 177,000
  • Price $ 75,000,000
  • Publication Date 12/16/2018
  • Event Date 12/14/2018
  • Party 1 L&L Holding
  • Party 2 Helaba
notes
The lender issued a loan of $75 million for the Lenox Hill property.
  • Event Sales
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 149,881
  • Price $ 153,000,000
  • Publication Date 07/16/2018
  • Event Date 07/10/2018
  • Party 1 SL Green Realty
  • Party 2 L&L Holding
notes
The buyer secured the Lenox Hill property for $153 million.
  • Event Office Leasing
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 25,779
notes
The infertility practice signed a lease renewal, the New York Post reported.
  • Event Sales
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 149,881
  • Price $ 60,780,000
  • Price per foot $ 405.52
  • Publication Date 12/01/2011
  • Event Date 10/22/2011
  • Party 2 Ashkenazy Acquisitions
notes
The purchase of the building's ground lease closed for $60.78 million, the New York Post reported.
  • Event Retail Leasing
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 2,380
  • Publication Date 08/01/2009
  • Event Date 06/22/2009
  • Party 1 West Land Corporation
  • Party 1 Brokerage Friedland Properties
  • Party 1 Broker Gene Meer
  • Party 2 Camper
  • Party 2 Brokerage Friedland Properties
  • Party 2 Broker Gene Meer
notes
The Spanish shoe company signed a long-term lease for a corner retail location, its fourth U.S. store.
  • Event Sales
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 144,075
  • Price $ 70,000,000
  • Price per foot $ 485.86
  • Publication Date 07/01/2008
  • Event Date 05/22/2008
  • Party 2 Ashkenazy Acquisitions
notes
The 44 years remaining on the ground lease went into contract for around $70 million. L&L Holdings bought the ground last year for $110 million.
  • Event Sales
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 150,000
  • Price $ 110,000,000
  • Price per foot $ 733.33
  • Publication Date 08/01/2007
  • Event Date 06/22/2007
  • Party 1 L&L Holding
  • Party 2 D. Levinson, R. Lapidus, L&L Acquisitions
notes
The land under the property sold for $110 million, or $735 per square foot, in a transaction that does not include the building.
  • Event Office Leasing
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 5,500
  • Publication Date 09/01/2005
  • Event Date 07/23/2005
  • Party 1 Ironwood Realty Corp
  • Party 2 Medical Imaging of Manhattan
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Richard Rosenthal
  • Event Office Leasing
  • Address 635 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 12,000
  • Publication Date 08/01/2004
  • Event Date 06/22/2004
  • Party 2 Searle
  • Party 2 Brokerage Garrick-Aug Worldwide
  • Party 2 Broker Faith Hope Consolo, Joseph Aquino
notes
New flagship store on three levels; to replace Bottega Veneta
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