625 Madison Avenue
Manhattan Office Building to Sell for $632.5M
A 17-story, Class-A commercial building, located at 625 Madison Avenue in Manhattan's Plaza District, is currently in contract to sell for $632.5 million. The structure will be purchased by Related Companies from the previous owner, SL Green Realty Corp.
Originally constructed in 1956 and later renovated in 2002, the 583,000-square-foot structure primarily contains office space. It also offers retail space, with several storefronts and a restaurant wrapped around three sides of the ground floor.
The building features a double-height lobby and benefits from its phenomenal location, positioned right in the heart of one of the world's premier luxury shopping destinations. It also sits within close proximity of the N, Q, R, 4, 5 & 6 subway lines.
Consistent improvements have been made to the building in pursuit of sustainability. The property maintains WiredScore Gold certification and is WELL Health-Safety Rated. It has also received awards from BOMA 360 and Energy Star.