515 MADISON SCORES!

The Malloy and Sheffer families announced they’ve sold a majority interest of their fee and senior leasehold positions at the 42-story 515 Madison Ave, a deal that values the building at $150M.
We snapped this yesterday of the building, where the interest was purchased by a JV of the veteran Gural and Hemmerdinger families. (They’d been the controlling party of the previously existing subordinate leaseholds.) The deal was financed with a Wells Fargo loan. The sellers were repped by Studley’s capital transaction group and Cleary Gottlieb’s Steve Horowitz; the Gurals by Goldberg Weprin’s Andy Albstein; and the Hemmerdingers by Schiff Hardin’s Christine McGuinness. Fun facts: It was the first building that JV senior partner Jeffrey Gural’s father ever operated, and will be one of their initial buildings to receive LEED certification.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Chapman Market Owners Get $29M Refinance: The Los Angeles Deal Sheet

Lineage Suing Solar Company Altus Power Over Boyle Heights Warehouse Fire

HPP, Blackstone Nab Extension On $1.1B Loan Tied To 2.2M SF Hollywood Portfolio

SpaceX Sues Texas AG, Grimes County Over Terafab Project Information

25 Years After 9/11, Lower Manhattan Is Finally Firing On All Cylinders

Tishman Speyer Seeks $92M Tax Break For Next Hudson Yards Office Tower

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

SL Green Selling SoHo Building For $226M