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March 21, 2018  

REIT Shops Land Under NY Building

SL Green Realty is marketing the land beneath the retail/office building at 635 Madison Avenue in Midtown Manhattan’s Plaza District.The offering could attract bids of roughly $160 million. Cushman & Wakefield has the listing.Ashkenazy Acquisition holds the leasehold interest in the roughly 180,000-square-foot building. That New York shop’s ground lease expires in 2051, including extension options.At the estimated value, the...

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