Madison Park Tower
NEW YORK CITY—CIM Group LP has sold Madison Park Tower, a 36-story luxury residential apartment, for $80 million to Morgenstern Capital and TLM Equities, LLC. Cushman & Wakefield served as the exclusive advisor to the seller, and represented the buyers in arranging approximately $65 million of acquisition financing, which was provided by affiliates of Square Mile Capital Management.
The building, constructed in 2009, is located on 34th Street between Madison and Park avenues. It houses 110 studio, one and two bedroom rental residences with views of the Manhattan skyline, the Empire State Building and the East River.
The Cushman & Wakefield capital markets team of Adam Spies, Doug Harmon, Adam Doneger, Kevin Donner and Avery Silverstein represented the seller in the acquisition.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
