635 Madison Avenue | The Real Deal New York

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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

  • Year Built 1958
  • square feet 176,530
  • block and lot 1-01374-0021
  • BIN 1040754

03/05/19
...last year to buy the fee position at 635 Madison Avenue from SL Green Realty.  ...

07/02/18
...L&L Holding's Robert Lapudis and 635 Madison Avenue (Credit: Madison Square Park, Blocksy, and LoopNet) UPDATED, July 2, 2:26 p.m.: L&L...

05/10/18
...635 Madison Avenue and Jay Sugarman SL Green Realty will sell its fee interest at 635 Madison Avenue...

06/05/17
...stores, the company also leases a space at 635 Madison Avenue on the Upper East Side. Industry insiders recently told TRD that Suitsupply, along with...

04/23/14
...a fee interest in an office tower at 635 Madison Avenue for $145 million. -- Hiten Samtani...

04/23/14
...635 Madison Avenue and Marc Holliday SL Green has entered contract to buy the fee interest at...

10/02/13
...and Michael Alpert – already own the leasehold at 635 Madison Avenue, the retail condominium rented out to Barney’s at 660 Madison Avenue and the retail...

04/17/13
...Avenue 10. Infertility clinic renews lease at Ashkenazy’s 635 Madison Avenue 11. East Village walk-up building hits market for $8.9 million...

08/29/12
...From left: 625 Madison Avenue, 635 Madison Avenue and 598 Madison Avenue (credit: Google Maps) A collection of high-end retailers are in talks...

02/15/11
...and Cortney Novogratz   5. Class B tower at 635 Madison Avenue in contract for $62 million, 56 percent less than what landlord paid in 2007   6. Brooklyn College...

08/27/09
...recently opened include Spanish shoe retailer Camper at 635 Madison Avenue and London-based jeweler Solange Azagury-Partridge, which opened at 809 Madison Avenue.Brokers taking the long...

06/04/08
...the 44 years left on the ground lease at 635 Madison Avenue, acquiring a 144,000-square-foot tower across from the GM Building. L&L Holdings bought...

...Avenue parcel on the block A parcel at 635 Madison Avenue is on the market and will likely sell for more than $100 million, the Post...

...Judith Leiber to 680 Madison Avenue and Searle to 635 Madison Avenue. The pair also represented the landlord exclusively in bringing Barneys Co-Op to its first...

07/10/07
...paid $110 million for a parcel of land under 635 Madison Avenue, on 59th Street, that currently houses a 150,000-square-foot office building. Though the sale does...
  • 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
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
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