MHP REAL ESTATE SERVICES REPRESENTS BUYER IN THE $213M SALE OF 295 MADISON AVENUE
THE 47 STORY, 330,000 SQUARE-FOOT BUILDING SOLD FOR $180M IN JULY OF 2007
We are proud to announce MHP Real Estate Services/TCN Worldwide in New York City represented the buyer, Eretz Group, in the $213,000,000 sale of 295 Madison Avenue, a 47 story, 330,000 square-foot building.
Westbrook Partners, a private equity firm was the seller and Abraham Talass of Eretz Group was the buyer. The building is located at the southeast corner of Madison Avenue and 41st Street just a block and a half from Grand Central. Westbrook paid $180 million for the building in July 2007.
Eretz Group was represented by David Greene of MHP Real Estate Services while Westbrook was represented by Doug Harmon and Adam Spies of Eastdil Secured.
In addition, MHP Real Estate Services/TCN Worldwide has the exclusive leasing assignment for the building, as well as for other Eretz properties, and has represented Eretz in eight previous purchases over the past 10 years.
SL Green Realty, a real estate investment trust, arranged $160 million in financing for the acquisition.
About MHP Real Estate Services/TCN Worldwide
MHP Real Estate Services owns, manages and leases more than 7 million square feet of commercial office space in New York. Though we bought our first building in the Murray Hill section of Manhattan, we have purchased and sold more than 150 properties in New York since we opened for business more than 40 years ago.
MHP Real Estate Services is an entrepreneurial firm with experienced brokers who offer practical real estate solutions for tenants and landlords, and buyers and sellers of real estate.
Our brokers have the opportunity to work on any type of transaction they choose. Our market research database provides us with up-to-the-minute comparable rents and sales. There is no substitute for experience and real time knowledge.
Every transaction, no matter its size, receives the attention of a senior broker. Our key executives also contribute at every level.
For more information, visit www.murrayhill.com.