The 258,000-sf office building--at the corner of East 61stStreet--houses the flagship store of Barney's New York on floorsone through nine, however the store is owned separately.Risanamento did not return GlobeSt.com queries by deadline, butaccording to a prepared company release, "for the sale of theoffice building of about 24,000 square meters, located in New York,660 Madison Ave., a mandate to a leading international broker willbe served during the next days."

According to a previous Risanamento statement, the building ismanaged by Fisher Brothers, who also did not return GlobeSt.comqueries by deadline. Tenants in the property, include Gleacher& Co., Blue Ridge Capital, Colony Capital, Corcoran Group,Dolce & Gabbana, Drake Partners, and Lexington Partners,according to MrOfficespace.com.

According to a Q1 2008 report, the firm reported a loss of 39.2million euros. The report says that "results were stronglyinfluenced by the unfavorable situation of the financial marketswhich had an impact on the real estate sector above all, which wassignificantly affected by the reduction of liquid funds availablefor new investments on the part of the credit system for newinvestments. Risanamento SpA was particularly affected by thissituation as it is a company whose core business is real estatedevelopment and furthermore the slow down in the sales programstrongly penalized the results for the financial year."