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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition