19
NEW YORK CITY — Locally based investment and development firm AmTrustRE has completed the acquisition of 260 Madison Avenue, a 22-story office building in Midtown Manhattan, for roughly $211 million. The approximately 570,000-square-foot building was constructed in 1952 and was roughly 68 percent leased at the time of sale. Tenants include Hanesbrands, MGM, Regus, McLaughlin & Stern and Marcus & Millichap. AmTrust plans to invest “significant capital” into interior and exterior improvements to the building. Darcy Stacom and William Herring of Stacom CRE, along with David Ash of Prince Realty Advisors, represented the seller, The Sapir Organization, in the transaction.