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545 Madison Ave.

545 Madison Ave., New York, NY
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Allied acquired the leasehold mortgage and 25% of the Limited Partnership interests of this 120,000 square foot office building located on the southeast corner of Madison Avenue  and  55th  Street.  Allied  took  control  of  and  restructured  the  existing Partnership  so  as  to  defer  unfavorable  tax  consequences  to  the  original  partners. Allied upgraded and re-leased the building which was ultimately returned to the fee owner upon the expiration of the ground lease.