Carlyle Expects To Eclipse $1B In Madison Ave. Tower Sale

Law360, New York (March 13, 2013, 8:33 PM EDT) -- With Manhattan's real estate markets sizzling with activity, the Carlyle Group has decided to put a Madison Avenue office and retail tower up for sale with expectations of raking in more than $1 billion, a source told Law360 on Wednesday.

The private equity giant is putting the 27-story property at 650 Madison Ave. in the hands of broker Eastdil Secured and is expecting the purchase price to range between $1.3 billion and $1.5 billion, considering the area's improving real estate market, a source familiar with the...
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