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AFI USA Madison Avenue Asset To Fetch $165M

Africa Israel USA is selling the Metropolitan Life Clock Tower Building at Madison Avenue for $165 million.

Africa Israel USA (AFI USA) is selling the Metropolitan Life Clock Tower Building at Madison Avenue for $165 million, GlobeSt reports. The building may be built into condos or a luxury hotel.

Most recently, fashion designer Tommy Hilfiger was said to be eying the building for converting it into a luxury hotel. The building was originally purchased by AFI USA for $200 million, with a deposit of $5 million, of which $2 million is non-refundable. Doug Heitner and Ashley Lostritto of Kasowitz Benson Torres & Friedman represented AFI USA on the sale.

Click here for the story from GlobeSt.

Click here for additional coverage from Citybizlist Real Estate.

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