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NEW YORK CITY—Tishman Speyer and Cogswell Lee have sold 183 Madison Ave. to APF Properties for $222.5 million. Referred to as the Madison-Belmont building, it was constructed in 1925. The 19-story, Midtown South office tower is located between E. 33rd and E. 34th streets. Fashion company Dreamwear, which recently expanded to two floors, architecture firm Spector Group and furniture retailer Domus Design Center are some of the tenants.
APF’s current portfolio includes five other Midtown Manhattan office buildings including one in the Plaza District and an office tower on Market Street in Philadelphia, PA.
Tishman and Cogswell acquired the 259,375 square-foot building in September 2014 from the Argentinian investment firm, IRSA Inversiones, for $185 million, according to Real Capital Analytics.
CBRE’s Darcy Stacom and Ryan Spector represented Tishman and Cogswell.