Real Estate

Barneys and Corcoran Have a New Landlord—660 Madison Trades for $375 M.

by Tom Acitelli  |  October 5, 2007
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Broadway Partners has sold for $375 million the first building it ever bought in Manhattan, 660 Madison Avenue. Broadway Partners' Web site says the 13-story building is 254,474 square feet, meaning it sold for over $1,470 a square foot, a hefty price tag in even today's heated investment sales market. Its tenants include residential real estate behemoth the Corcoran Group and the flagship retail location of Barneys New York.

Scott Lawlor's ravenous Broadway bought 660 Madison in May 2006 for $216 million, and went to contract on its sale in August of this year; the sale was recorded in city records this morning. The buyer was Etoile 660 Madison LLC.

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