Tishman Speyer Partnership Sells 183 Madison
A partnership of Tishman Speyer and Cogswell Lee Development has sold the 19-story 183 Madison Ave. to APF Properties for $222.5 million. CBRE’s Darcy Stacom and Ryan Sector represented the sellers, who had paid $185 million for the 272,000-square-foot office property in 2014.
“Tishman Speyer and Cogswell Lee’s expert stewardship of 183 Madison Avenue has made it a highly competitive asset in the sought-after Midtown South submarket,” said Stacom. “It is a great addition to APF’s Manhattan portfolio.”
183 Madison was built in 1925 as the Madison-Belmont Building. Current tenants include fashion company Dreamwear, which recently expanded to two floors at the building, architecture firm Spector Group and furniture retailer Domus Design Center.
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