The State Teachers Retirement System of Ohio is selling 590 Madison Avenue in Midtown Manhattan, aiming for $1.1 billion. The 1 m sq. ft. trophy office building, formerly known as the IBM Building, could mark the city’s first billion-dollar sale in two years. Despite IBM’s departure, the property remains attractive, with LVMH leasing 150,000 sq. ft. at $190 per sq. ft. Edward J. Minskoff Equities manages the building and is adding tenant amenities.
590 Madison Avenue
