Brookfield is close to acquiring a 49% stake in the Midtown South office building at 63 Madison Avenue, valuing the property at about $400 million, or $465 per square foot. The 860,000-square-foot building, currently 76% leased, recently secured a 337,000-square-foot lease with American Eagle Outfitters. The deal comes amid renewed investor interest in New York office assets, following similar large-scale deals by RXR, Blackstone, and Tishman Speyer. George Comfort and Sons, Jamestown, and Loeb Partners Realty are the current owners. Newmark’s Adam Spies and Adam Doneger brokered the transaction.
63 Madison Avenue
