Lois Weiss
BETWEEN THE BRICKS
The Madison Belvedere has been sold to Invesco for a client of the firm for about $300 million. The 50-story tower with 404 residential apartments at 10 E. 29th St. was developed by Rose Associates in 1998.
The building, by Fifth Avenue and Madison Square Park, was quietly marketed by Woody Heller’s team at Studley, which included Will Silverman, Eric Negrin and Daniel Parker.
No one would comment on the purchase price, which was revealed by other sources.
“It’s a great property and the tallest in the neighborhood, with very nice amenities, a well-appointed gym and an enormous roof garden,” said Heller.
LEGO flagship set for 2014.
Now in the hip NoMad area, it was more like No Man’s Land when the late Frederick P. Rose paid $11,598,792 to a convent for the site that is now home to the luxury tower.
Rose once bragged at a Silverstein Workshop at the NYU Real Estate Institute that he was pouring concrete at about a floor a week, having learned just-in-time engineering while in the Army.
His son, Adam P. Rose, is now co-president of the company, which is currently developing 70 Pine St., as Post colleague Steve Cuozzo reported.
The family builds large and well-appointed buildings to keep, and has previously sold only The Sheffield.
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Nearby, an iconic toy company is opening a retail store in an historical former toy building.
LEGO Systems has just leased 7,703 square feet at 200 Fifth Ave. on the prominent northwest corner of West 23rd Street for a flagship store that will open in January 2014.
The toy company is known for its colored blocks that combine into imaginative creations. It currently has a small outpost in Rockefeller Center and recently signed a lease to open at Ridge Hill in Westchester.
Jonathan Scibilia and Andrew Kahn of Cushman & Wakefield represented the toy tenant in the 10-year deal. David C. Berkey and Andrew Wiener of L&L Holdings represented ownership in-house. The asking rent was $500 per foot.
The 800,000-square-foot building was known as the International Toy Center for more than 75 years prior to its purchase in 2009 by L&L.
Led by David Levinson, L&L upgraded the building and the tenancies to include Grey Group, Tiffany & Co. and IMG Worldwide. Eataly is also a retail tenant and helped to transform the Madison Square Park area into a lively destination.
The Billund, Denmark-based LEGO Group was founded in the 1930s by Ole Kirk Christiansen and remains a privately held, family-owned company.
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Another kind of building block will soon take over at Pier 57 at the crossroads of Chelsea and Meatpacking District.
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