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Acquisitions

Madison Equities sells retail condo at 212 Fifth Avenue

Tenants are Togas House of Textiles and Deciem

Rendering of 212 Fifth Avenue (Credit: Madison Equities)

Madison Equities and Building and Land Technology have sold
their retail condo at 212 Fifth Avenue for $26.5 million. The mysterious buyers is tied to an entity managed by Joaquin Garcia-Quiros Rodriguez. The NoMad retail condo spans 4,620 SF, and is occupied by Togas House of Textiles and Deciem.

Be Smart: The Daily Beat has learned that the condo traded at a 4.6% cap rate. With new long term leases in place (10 to 15 years), the foreign buyer gets a well located asset with stable cash flow.

Location: The retail space offers over 200 feet of wraparound frontage, including two prime corners of Fifth Avenue and Broadway along West 26th Street. 

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