Invesco Scoops Up NYC's Madison Belvedere Rental Tower

Law360, New York (December 5, 2012, 7:17 PM EST) -- Investment giant Invesco Ltd. has acquired the Madison Belvedere, a 50-story rental tower in midtown Manhattan, on behalf of a client, from developer Rose Associates Inc., real estate services firm Studley announced Wednesday.

The deal for the luxury apartment building at 10 East 29th St. is the latest reminder that, despite an uncertain economy and investor skittishness about many asset classes, Manhattan's multifamily market remains robust, according to Studley, which brokered the deal.

"Multifamily continues to be the most sought-after property type, and New York is one...
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