11 Madison on the block: $600m seen as possible price.Two companies are now representing Metlife to sell 11 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. that may bring in as much as $600 million, say published reports. Metlife has hired Eastdil and Lehman Brothers to sell the 29-story 2.2 million SF building that is bound by 24th and 25th Streets and Madison and Park Avenues. Spokesmen for the companies refused to comment on the marketing of the building, but Metlife spokesperson Jennie Morgan said the building is up for sale. "We will be marketing that building," Morgan said last week. "We are in the beginning stages of the marketing process." Morgan would not, however, discuss any further details or the asking price. Metlife does not occupy any space in the building. Next door at One Madison Avenue, the former Metlife headquarters building, another deal has been closed. Walgreens signed a sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. deal earlier this year with Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. to rent 13,000 SF of retail space on the bottom floor of 1 Madison Ave. Although a price was not disclosed, CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. , the firm that helped to close the deal, was asking $125 a SF. The space, with a street address of 33 East 23rd St., is currently under construction, with an opening date planned for sometime in November, said Walgreen spokesperson, Carol Hivley. "It will be a 24-hour store," Hively added. CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) employees, Andrew Goldberg, Eric Gelder, Lewis Miller and Jonathan Walsh were involved in the transaction. The space had been vacant for more than three years. CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank , a global investment banking firm, currently leases 1.4 SF of office space in the building. |
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