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Record New York Tower Acquisition Closes

Published Thursday, April 10, 2008

Ashkenazy Acquisition Corp. and The Carlyle Group have completed their purchase of 650 Madison Avenue, a trophy asset in New York’s Plaza District, for $680 million. Trading for more than $1,130 per sq. ft., the 27-story office and retail tower garnered the highest price paid for a single asset so far this year. “This deal further cements our position as the largest retail landlord on Madison Avenue and we are thrilled to add it to our bi-coastal portfolio of high-end assets,” says Michael Alpert, president of Ashkenazy Acquisition Corp., which purchased the property from Hiro ...

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