Posted Oct 16, 2024, 8:58 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,206
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https://www.bloomberg.com/news/artic...wer-for-condos
Billionaires’ Row Developer Buys NYC Office Tower for Condos
-Extell’s price for 655 Madison Ave. is more than $200 million
-Elliott-backed Tyko Capital provides financing for the deal
By Natalie Wong
October 16, 2024
Quote:
Extell Development, the company behind some of Manhattan’s most expensive condo skyscrapers, bought a Madison Avenue office property with plans to build luxury housing and retail at the site.
The developer purchased 655 Madison Ave. — between 60th and 61st streets — from Williams Equities for more than $200 million, according to people familiar with the deal. Tyko Capital, which is backed by Elliott Investment Management, is financing the acquisition, one of the people said, asking not to be named discussing a private matter.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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