REBusinessOnline

JV ACQUIRES 180 MADISON AVENUE FOR $146 MILLION

NEW YORK CITY — A joint venture led by New York City-based The Clarett Group has acquired 180 Madison Avenue, a 23-story, 274,000-square-foot office building located in New York City, for $146 million. Clarett and its joint venture partner, Prudential Real Estate Investors, plan to implement a capital improvement plan. The JV acquired the property from Sitt Asset Management, which was represented by Doug Harmon and Adam Spies of Eastdil Secured. CB Richard Ellis has been brought on as leasing agent for the building.

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