Suzer Group and ASRR Buy Madison Avenue Townhouse for $18.5M

February 1, 2015
Written by Admin TOA
Published in Businessman

Alex Sapir and Rotem Rosen?s Israeli public company, ASRR Capital, along with Suzer Group, the Turkish conglomerate led by the Suzer family, bought a large townhouse at 218 Madison Ave. that will be demolished for a 10-story luxury property. The venture paid $18.5 million for the site at the corner of E. 36th St., according to a report in the Israeli media. The plan of the venture is to develop 10 high-end, full-floor apartments, private underground parking, and a gym and spa for residents along with retail and a restaurant led by an important chef, sources said

Some of the features of the circa-1800s building ? like the elaborate stained glass skylight ? will be moved to the new penthouse apartment. Arkadi Novikov, who runs the exclusive Novikov Restaurant & Bar in London, was in New York last week and visited the site, sources told The Post.

Sapir and Rosen also own 260 and 261 Madison ? where Zuma attracts a line of limos every night ? and 11 Madison, which hosts the restaurant 11 Madison Park.

The Madison Avenue corridor from 23rd Street to 42nd Street is becoming an upscale hotel, residential and retail zone focusing on interior design.

The Marriott Edition will open soon in the Clock Tower overlooking Madison Square Park, while Armani/Casa is among the area furniture shops. The building was on the market through the Corcoran Group. No one could be reached for comment. (By Lois Weiss, http://nypost.com)

Last modified onSaturday, 06 May 2017 10:07

Tagged under