NEW YORK CITY-According to industry sources, a 49% stake in the650 Madison Avenue building is all set to be placed on the marketfor sale. According to a source, the value of the buildingmeasuring 500,000 square feet is nearly $950 million. At present,Ralph Lauren has occupied 280,000 square feet at the building.
Carlyle Group in partnership with Ashkenazy Acquisitionspurchased the building in 2008 for $680 million. The building holdsa debt worth $500 million.For the full story, go to New York Observer.
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