Share

New York, record sale: 2,285 billion for a building on Madison Avenue

The building, built in the 20s in the Art Deco style, stands in the heart of Manhattan, on Madison Avenue – It was sold to a real estate company for a record sum of over 2 billion dollars – Conceived at the time to be the tallest skyscraper highest in the world, has hosted films by Martin Scorsese and Woody Allen.

New York, record sale: 2,285 billion for a building on Madison Avenue

A building sold for a record amount of 2,285 billions of dollars. The building in question is not just any building, but number 11 Madison Square in New York, an Art Déco structure that dominates the square near the Madison Square Park Flatiron Building, in the heart of Manhattan (it's a side street of 5th Avenue) .

The property, on which an additional $300 million will be spent for rent settlement and renovation, also houses Madison Park Eleven, one of the Big Apple's most prestigious restaurants. But it is also famous for having been conceived as the tallest building in the world in the 20s: the base is in fact similar to that of the Empire State Building, but the project was aborted, stopping on the 30th floor, due to the collapse of the Wall Stock Exchange Street in 1929 and the ensuing Great Financial Depression which prevented its completion.

Il Metropolitan Life North Building, this is its name, now belongs to the real estate company SL Green: the previous owner was Sapir Organization, which had used it largely as the offices of the Swiss bank Credit Suisse but also for Sony and Yelp. It is also famous for hosting scenes from several films by Martin Scorsese and Woody Allen.

comments