Midtown’s Biggest Fans May Be Foreign Buyers

In June, the Italian real estate investor Luigi Zunino made a foray into the New York market with the purchase of 660 Madison Avenue, the stylish office tower atop Barneys New York, for $375 million. At $1,488 a square foot, according to Mr. Harmon, it set a record for Manhattan commercial real estate. The deal, which closed on Aug. 30, was leveraged at a more modest 70 percent, with Deutsche Bank providing the financing, according to Mr. Harmon, who was the exclusive adviser for the transaction.