
295 Madison Avenue | New York, NY
Brickman purchased a Mezzanine C-Note secured by 295 Madison Avenue located in New York, NY. The property, built in 1929, is a 47-story, Class B+ office tower located at the corner of Madison Avenue and 41st Street. The firm purchased the mezzanine note primarily due to the attractive basis, the property's location and a significant equity contribution from institutional investors. Since acquiring the property, the Sponsor has completed a renovation of the lobby and common corridors, installed new windows and increased occupancy.
Property Details
- Property Type
- Office
- Investment Type
- Mezzanine
- Rentable Area (S.F.)
- 329,000
- Year Built / Renovated
- 1929 / Ongoing
- Investment Date
- Apr-08
