HFF represents Nightingale Properties, LLC in the leasehold capitalization of 645 Madison in Manhattan’s Plaza District
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has represented Nightingale Properties, LLC (Nightingale) in the capitalization of a leasehold position of 645 Madison, a 22-story, 157,027-square-foot, Class A trophy office and retail tower in Manhattan’s Plaza District.
HFF arranged the capitalization on behalf of Nightingale and Friedland Properties.
645 Madison is located just one block from Central Park on the southeast corner of East 60th and Madison Avenue in the heart of Manhattan’s Plaza District. Originally constructed in 1971, the property was fully renovated in 2007 and is primarily leased to financial services tenants. The property also contains approximately 36,170 square feet of prime retail, which is available for immediate occupancy, enabling ownership to take advantage of one of the most desired retail corridors in the world, with neighbors such as Apple, Barney’s, Bottega Veneta, Brioni, Chanel, Hermes, Montcler and Ralph Lauren.
The HFF team representing Nightingale was led by managing director Rob Rizzi along with senior managing directors Eric Anton, Andrew Scandalios and Richard Reid and director David Fowler.
“We are excited to have arranged this venture between Nightingale and Friedland and are confident they will transform the asset into a best-in-class office and retail property worthy of this famed corridor,” said Rizzi.
“Both parties worked incredibly quickly to get through diligence and consummate a landmark transaction,” added Anton.
About Nightingale Properties, LLC
Founded in 2005, The Nightingale Group, LLC acquires high-potential commercial real estate, actualizes the full cash-flowing and market-value potential, and then manages the asset to ensure it achieves its highest and best use for maximum internal rates of return.
About Friedland Properties
Friedland Properties was founded in 1960, though the family has owned investment properties since 1935. For over fifty years the Friedland family has honed their reputation as honest, intelligent, and honorable real estate investors. These traits have helped them build a portfolio of over 100 properties on the East Coast. Friedland Properties is the largest landlord on the Gold Coast of Madison Avenue.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.