NEW YORK CITY — Rockrose Development Corp. has acquired the commercial portion of the Madison Square Building at 15 E. 26th St. in Manhattan from Savanna Estate Fund for $105 million. The 150,000-square-foot boutique commercial office space is part of the larger 20-story, 330,000-square-foot mixed-use property. Constructed in 1920, the asset is 95 percent leased to tenants on floors one through eight, including Vera Wang's executive offices and showroom. The seller acquired the property in February 2012 for $57.8 million, according to CoStar Group Inc. Savanna worked with the Jones Lang LaSalle team of Mitchell Konsker, Matthew Astrachan, Matthew Polhemus and Brittany Wunsch in leasing up the property at market rents.Craig Deitelzweig, head of Rockrose's office division, represented the buyer in-house. Adam Spies, Doug Harmon, Adam Doneger and Joshua King with Eastdil Secured represented Savanna in the transaction.
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