DEAL ANNOUNCEMENT / PRESS RELEASE
June 12, 2024
Read time: 3 min
International law firm McDermott Will & Emery represented an affiliate of RFR Holding LLC (RFR), a New York-based real estate owner, investor and developer, in the $560 million sale of 980 Madison Avenue in New York, New York, an approximately 134,000 square foot art gallery, office and retail building, to a company affiliated with Michael Bloomberg.
The McDermott team was led by Elias Eliopoulos, Stephanie Stein and Diego Torres-Lugo. The deal terms required an expedited two-week closing on the highly notable property given the significant purchase price for what is predominantly an office asset in a weak sales market.
In 2023, McDermott represented RFR in a forward-lease of all the office space in a building to an entity affiliated with Bloomberg Philanthropies.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
