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Rare Ground Lease Goes Up for Sale in Midtown East

NEW YORK CITY-Home to a 563,000 square foot office/retail tower, which hosts Ralph Lauren, the asset will be marketed by Cushman.

By Rayna Katz | Updated on June 05, 2013

NEW YORK CITY-Cushman & Wakefield announced Wednesday that it has been appointed by 625 Ground Lessor LLC to market the ground lessor’s position at 625 Madison Ave. The property spans the full block-front on the east side of Madison Avenue, between 58th and 59th streets.

The underlying ground features a 17-story, 563,000 square foot Class A office and retail tower. Fashion industry giant Polo Ralph Lauren occupies 70 percent of the building. The ground lease term expires in 41 years.

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