Italian Firm Looks To Shed 660 Madison Stake

NEW YORK CITY-Risanamento SpA bought the office portion–floors 10 through 23–of 660 Madison Ave. last August for $375 million from Broadway Partners, who purchased the asset in May 2006 for $216 million. The Risanamento purchase was made through a non-recourse financing of $275 million, as GlobeSt.com reported, and the Milan-based company is now looking to sell the asset.

The 258,000-sf office building–at the corner of East 61st Street–houses the flagship store of Barney’s New York on floors one through nine, however the store is owned separately. Risanamento did not return GlobeSt.com queries by deadline, but according to a prepared company release, “for the sale of the office building of about 24,000 square meters, located in New York, 660 Madison Ave., a mandate to a leading international broker will be served during the next days.”

According to a previous Risanamento statement, the building is managed by Fisher Brothers, who also did not return GlobeSt.com queries by deadline. Tenants in the property, include Gleacher & Co., Blue Ridge Capital, Colony Capital, Corcoran Group, Dolce & Gabbana, Drake Partners, and Lexington Partners, according to MrOfficespace.com.