Meraas Sells 540 Madison Avenue

Cleary Gottlieb represented Meraas Capital (Meraas) in the disposition of its minority ownership interest in the 1970s-era office building at 540 Madison Avenue in New York’s Plaza District, which, until the sale, was held in a joint venture with Boston Properties Limited Partnership and US Real Estate Opportunities I LP, a Goldman Sachs-managed investment fund.

The transaction closed on June 28, 2019.

Cleary also represented Meraas in its acquisition and disposition of the iconic GM Building in 2008 and 2013, respectively, which was held in the same joint venture. In addition to the GM building, the joint venture also acquired 540 Madison Avenue and two other New York City office buildings from Harry Macklowe, all of which have been sold in separate transactions.