{"id":150018,"date":"2026-03-02T19:52:47","date_gmt":"2026-03-02T19:52:47","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/150018\/"},"modified":"2026-03-02T19:52:47","modified_gmt":"2026-03-02T19:52:47","slug":"manhattan-commercial-property-leased-to-van-cleef-arpels-sold-for-54-5-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/150018\/","title":{"rendered":"Manhattan Commercial Property Leased to Van Cleef & Arpels Sold for $54.5 Million"},"content":{"rendered":"

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SL Green Realty Corp. (NYSE:SLG) and its joint venture partner, Jeff Sutton\u2019s Wharton Properties, announced it has closed on the sale of New York City\u2019s 690 Madison Avenue for $54.5 million.\n<\/p>\n

The property is a five-story, 7,850-square-foot commercial building located on the Upper East Side of Manhattan. The building is fully leased to Richemont\u2019s Van Cleef & Arpels, a French luxury jewelry company.<\/p>\n

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Gary Phillips and Will Silverman of Eastdil advised on the transaction. The companies did not identify the buyer.\n<\/p>\n

\u201cThe sale of 690 Madison Avenue underscores the continued trend of significant demand for flagship locations occupied by high-end retail users along Manhattan\u2019s finest retail corridors,\u201d said Harrison Sitomer, chief investment officer at SL Green. \u201cWe\u2019re proud to have positioned the asset to an owner that shares our long-term vision.\u201d\n<\/p>\n

Photo courtesy of LoopNet\n<\/p>\n

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