Press Releases
Between the Bricks - Ashkenazy Closes on 635 Madison
October 18, 2011
By: Lois Weiss
After nearly three years of ups and downs, the Ashkenazy Acquisitions deal to buy the ground lease for 635 Madison Ave. has closed. The transaction was completed in mid-July for $60.78 million. Sources said the company also assumed some securitized debt.
Control of 635 Madison Ave. bumps the company headed by Ben Ashkenazy and Michael Alpert into first place as the largest retail owner in the area, with more than 400,000 square feet.
Holdings include the Prada store at 841 Madison Ave., the 660 Madison Ave. retail condo occupied by Barney’s and 650 Madison Ave. The company declined comment.
