, from a partnership led by David Berley, chairman of Walter & Samuels Inc. SL Green said the 215,000 square foot office and retail complex, located on the corner of 23rd Street across from the landlord’s One Madison Avenue tower, will be acquired with 50 percent cash and 50 percent “operating partnership units.”
$628 a square foot
Class A Properties
Class A rents in the Midtown South market jumped 33 percent in the first quarter to $68.79 from the year-ago quarter, according to Cushman & Wakefield.
Doug Harmon of Eastdil Secured advised on the off-market transaction, while Walter & Samuels represented itself in the deal.