Avison Young brokers $49M sale of historic residential building located at 809-811 Madison Avenue
New York, NY – Global real estate advisor Avison Young has arranged the sale of the residential portion of a 12-story mixed-use building located at 809-811 Madison Avenue in Manhattan on behalf of the seller, Churchill Real Estate. The 1920s-era building situated in the heart of the Upper East Side’s “Gold Coast” traded to developer Harry Macklowe in partnership with Scott Shnay and SK Development for $49 million.
Avison Young Principal and Head of U.S. Investment Sales James Nelson and Avison Young’s Tri-State Investment Sales team including Directors Alexandra Marolda, Brent Glodowski and Eric Karmitz represented the seller in the disposition.
“We’re pleased to achieve a successful outcome for our client and the local community, which will see a historic property that has long sat vacant be repositioned for the future,” said Nelson. “This prime Madison Avenue and East 68th Street corner asset offers a multitude of value-add opportunities in one of the world’s premier residential and retail shopping corridors.”
According to Avison Young’s H1 U.S. Investment Sales report, 13.3% more multifamily properties traded in the first half of 2025 than the same period last year, totaling over $2.4 billion across 205 transactions.
About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2025 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 14 consecutive years.
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