Deals
NYC’s 11 Madison Ave. Sells for $2.29 Billion to SL Green
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SL Green Realty Corp. agreed to buy 11 Madison Avenue, the Manhattan tower that houses Credit Suisse Group AG’s U.S. headquarters, for $2.29 billion in one of the biggest real estate transactions ever in New York City.
The seller is a partnership of the Sapir Organization and CIM Group, according to a statement Tuesday. The 29-story, 2.3 million-square-foot (213,700-square-meter) property is between 24th and 25th streets in the Flatiron section of midtown south, overlooking Madison Square Park. The real estate investment trust will also pay about $300 million in costs tied to lease-stipulated improvements at the tower.