Manhattan office building 590 Madison Avenue, which also hosts retail space, has been put up for sale for about $1.1 billion, according to a report from Bloomberg, citing sources familiar with the situation.
The roughly one million square foot property is owned by public pension fund, State Teachers Retirement System of Ohio, with Eastdil Secured handling the marketing.
According to the news outlet, 590 Madison is one of New York City's largest trophy assets to be put up for sale since the onset of the pandemic. It was formerly known as the IBM Building before the tech giant relocated its office to 1 Madison Avenue. According to CompStak, some tenants in 590 Madison include Louis Vuitton, Consello, and Tiger Infrastructure.
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