NEW YORK CITY-RFR Realty has reached a contract to purchase 285 Madison Ave. from Young & Rubicam for almost $190 million. The 550,000-square-foot building, situated between East 41st and East 40th streets, will change hands for about $345 per square foot.
Recent published reports stated that RFR is nearing a deal to purchase 350 Madison Ave. for about $350 million. Y&R occupies the entire Madison Avenue property and it will vacate the building next year. Brokers from CBRE Group Inc. are handling the sale. For the full story, go to Crain's New York Business .
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