ASB Real Estate Investments is the seller
Daishin Securities has acquired 400 Madison Avenue from ASB Real Estate Investments for $194.5 million. The Midtown office building spans 186,628 square feet, and features valuable ground-floor retail space.
Dig Deeper: With unique dimensions, the narrow building stretches just 45 feet deep, and benefits from an entire block of frontage (200 feet) along Madison Avenue. The 22-story property sits between East 47th and East 48th Streets.
Flashback: ASB acquired the property from Billy Macklowe for $139.4 million in 2012.