After nearly three years of ups and downs, the Ashkenazy Acquisitions deal to buy the ground lease for 635 Madison Ave. has closed. The transaction was completed in mid-July for $60.78 million. Sources said the company also assumed some securitized debt.
Control of 635 Madison Ave. bumps the company headed by Ben Ashkenazy and Michael Alpert into first place as the largest retail owner in the area, with more than 400,000 square feet.
Holdings include the Prada store at 841 Madison Ave., the 600 Madison Ave. retail condo occupied by Barney’s and 650 Madison Ave. The company declined comment.
In Other News
. Sitt's 1370 Broadway hits the market with Eastdil, likely to fetch more than $130 million [Post, 2nd item]
. Responses to city's request for proposals mark huge milestone in Willets Point development [NYT]
. Republican candidates shied away from housing discussion at last night's debate [WSJ]
. HPD decides to go ahead with affordable housing project on 20th Street Park in Chelsea [DNAinfo]
. Sugar Hill Golden Ale, beer brand that dates to Prohibition, is opening a Harlem factory [Uptowner]
. 30-year fixed-rate mortgage increases to 4 percent for first time in seven weeks [Zillow]
. Sharif El-Gamal misleads Daily News on property tax payment [NYDN]
