Risanamento buys assets in New York

Milan-based Italian real-estate group Risanamento S.p.A. announces the important investment in the prestigious buildings market from Broadway 660 Madison Fee LLC relative to a twenty-three story building located at 660 Madison Avenue, New York City, in the Plaza District, for $375mln. The asset, home of Barney's the prestigious department store, measures about 24,000 square meters, for a purchase price of about €11,600 per square meter. 660 Madison Avenue is the first commercial building coming from the Upper East Side, one of the most exclusive residential areas in Manhattan, and features extremely rare characteristics for New York City buildings such as undisputed Central Park views and wide terraces. The location and the high quality of the asset has made it one of the prime and most prestigious addresses for financial boutique firms in New York City.