Friedland Snags BNY Mellon NYC Office In $142M Deal

Law360, New York (December 18, 2012, 4:39 PM EST) -- Friedland Properties has added to its Madison Avenue real estate empire with a $141.5 million deal for The Bank of New York Mellon Corp.'s wealth management headquarters at 706 Madison Ave. in New York City, sources with knowledge of the transaction said Tuesday.

The two-story, prewar colonial office building generated a good deal of interest from a number of serious investors, most of whom — Friedland included — were looking to convert it to full retail use, one source told Law360.

The property, which currently measures...
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