# NEW YORK | 590 Madison Avenue **URL:** \ **Category:** Proposed\ **Created:** [March 27, 2025, 8:07am UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394 "2025-03-27T08:07:10Z")\ **Posts on this page:** 9\ **Page:** 1
**Author:** ![007](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/007/32/119215_2.png) [@007](https://forum.newyorkyimby.com/u/007)\ **Post date:** [March 27, 2025, 8:07am UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/1 "2025-03-27T08:07:10Z")
> **['Better Than Billionaires' Row'? Why NYC's Top Developers Are All-In On A...](https://www.bisnow.com/new-york/news/construction-development/better-than-billionaires-row-why-nycs-top-developers-are-all-in-on-a-tiny-patch-of-madison-avenue-128669)** > > Extell and Related have moved forward on skyscraper projects roughly one block away from each other. Other nearby landlords have big plans too. Per NYguy A pension fund last month reportedly tapped Silverman’s team at Eastdil to market 590 Madison Ave. for $1.1B. ---
**Author:** ![007](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/007/32/119215_2.png) [@007](https://forum.newyorkyimby.com/u/007)\ **Post date:** [March 31, 2025, 7:29pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/2 "2025-03-31T19:29:40Z")
> **[Apollo Global Negotiating 100K-SF Lease for Four Floors at 590 Madison](https://commercialobserver.com/2025/03/apollo-global-mangement-lease-590-madison-avenue/)** > > Apollo Global Management is negotiating for a new deal for four floors at 590 Madison Avenue totaling just under 100,000 square feet. ---
**Author:** ![Waymond\_Womano](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/waymond_womano/32/7078_2.png) [@Waymond\_Womano](https://forum.newyorkyimby.com/u/Waymond_Womano)\ **Post date:** [April 14, 2025, 8:42pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/3 "2025-04-14T20:42:29Z")
> **[Apollo Global Finalizes 100K-SF Lease at 590 Madison Avenue](https://commercialobserver.com/2025/04/apollo-global-management-590-madison-avenue/)** > > Apollo Global Management has finalized its pending deal for 100,000 square feet at 590 Madison Avenue. ---
**Author:** ![Waymond\_Womano](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/waymond_womano/32/7078_2.png) [@Waymond\_Womano](https://forum.newyorkyimby.com/u/Waymond_Womano)\ **Post date:** [May 8, 2025, 11:03pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/4 "2025-05-08T23:03:26Z")
> **[Installment Sale on the Table for $1.1B 590 Madison Avenue Deal](https://commercialobserver.com/2025/05/590-madison-installment-sale/)** > > A much-anticipated purchase of 590 Madison Avenue — touted as the biggest office sale since 2022 — may be structured as an installment sale. ---
**Author:** ![007](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/007/32/119215_2.png) [@007](https://forum.newyorkyimby.com/u/007)\ **Post date:** [May 20, 2025, 7:31pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/5 "2025-05-20T19:31:00Z")
> **[RXR buying 590 Madison for close to $1.1B](https://therealdeal.com/new-york/2025/05/19/rxr-buying-590-madison-for-close-to-1-1b/)** > > RXR is buying 590 Madison Avenue from the State Teachers Retirement System of Ohio in NYC’s biggest office deal in years ---
**Author:** ![Arik](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/arik/32/175174_2.png) [@Arik](https://forum.newyorkyimby.com/u/Arik)\ **Post date:** [May 21, 2025, 12:07am UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/6 "2025-05-21T00:07:54Z")
They have 1.1B lying around but are trying to get a government loan for 175 Park Avenue? ---
**Author:** ![YIMHudson](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/yimhudson/32/2304_2.png) [@YIMHudson](https://forum.newyorkyimby.com/u/YIMHudson)\ **Post date:** [August 19, 2025, 3:33pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/7 "2025-08-19T15:33:40Z")
Adding to the portfolio > **[RXR Closes on Nearly $1.1B Buy of 590 Madison Avenue](https://commercialobserver.com/2025/08/rxr-590-madison-avenue-deal-closes/)** > > Scott Rechler’s RXR has clinched the deal to buy 590 Madison Avenue for just under $1.1 billion, according to property records. ---
**Author:** ![Jkash](https://avatars.discourse-cdn.com/v4/letter/j/f19dbf/32.png) [@Jkash](https://forum.newyorkyimby.com/u/Jkash)\ **Post date:** [August 19, 2025, 6:22pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/8 "2025-08-19T18:22:43Z")
$785M of the $1.08bn came as a loan from Apollo - leaving $295M of equity. Of that equity need - Elliot Management and Baupost provided over 90% of it, leaving RXR to put in roughly $20M of cash into this deal (if that). Put that $20M into perspective of what kind of equity check you’d need to build 175 Park ---
**Author:** ![Waymond\_Womano](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.newyorkyimby.com/waymond_womano/32/7078_2.png) [@Waymond\_Womano](https://forum.newyorkyimby.com/u/Waymond_Womano)\ **Post date:** [May 29, 2026, 7:35pm UTC](https://forum.newyorkyimby.com/t/new-york-590-madison-avenue/24394/9 "2026-05-29T19:35:50Z")
> **[Madison Avenue tower reaches turning point ](https://nypost.com/2026/05/25/business/nyc-skyscraper-next-to-trump-tower-reaches-turning-point/)** > > RXR, the managing partner, set about preparing the former IBM tower for the future with an extensive upgrading.