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Acquisitions

RFR acquires 477 Madison Avenue

Aby Rosen’s RFR Holding has acquired 477 Madison Avenue from Barbara Slifka for more than $260 million. The 23-story office building spans 325,000 SF, and sits at the corner of East 51st Street.

  • Slifka family drama: When Alan Slifka died in 2011, he left half of the property’s fee position and 2.5 percent of the leasehold to his three sons. Barbara owned the other half as well as 50 percent of the leasehold. In 2013, Shorenstein Propertiesbought a 47.5 percent interest in the leasehold that runs through 2039. 
  • Case was tossed in April: The brothers claimed that their Aunt Barbara had orchestrated a power grab and worked to sell the family property against their interests.
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