Munich Re Group Agrees to Buy Manhattan Skyscraper

December 20, 2019

Munich Re Group, advised by MEAG, has agreed to acquire the 330 Madison Avenue building in New York City.

The 39 story high-rise dates from 1963 and was designed by Ely Jacques Kahn, one of the fathers of the New York City skyline. It was renovated in 2012, including a new glass curtainwall fa├žade, lobby and updated systems that achieved LEED Gold certification.

330 Madison Avenue features 852,000 sq. ft. of Class A space that is 95% leased to prominent tenants, among them Guggenheim Partners, JLL and HSBC.

The seller was advised by CBRE, while MEAG had support from EastBanc. The parties have agreed to not disclose the purchase price.

MEAG manages the assets of Munich Re and ERGO. MEAG is active in Europe, Asia and North America.

Source: Munich Re Group

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