Elliott Investment Management Acquires 590 Madison Avenue in Joint Venture
Deal News | Aug 14, 2025 | Fried Frank
Fried Frank advised Elliott Investment Management on a significant transaction involving the acquisition of 590 Madison Avenue in New York City. Together with RXR, Elliott entered into a joint venture to secure the property for a substantial sum of $1.08 billion. Additionally, the acquisition received related financing provided by Apollo Global Management. This transaction illustrates the ongoing appeal and investment potential of prime Manhattan real estate. Fried Frank's team, which was led by partners Michael Werner and Andrew Ebersbach and included associate Joshua Jun, played a pivotal role in guiding Elliott through this complex venture.
Sectors
- Real Estate
- Private Equity
- Legal Services
Geography
- United States – The transaction involves the acquisition of a property located in New York City, a significant landmark in the United States.
- New York – 590 Madison Avenue is located in New York City, making this the specific geographic focus of the deal.
Industry
- Real Estate – The acquisition of a prominent Manhattan property places the transaction within the real estate sector.
- Private Equity – Elliott Investment Management, as a prominent investment firm, plays a key role in the private equity sector.
- Legal Services – Fried Frank provided legal advisory services, making this sector relevant to the deal.
Financials
- $1.08 billion – The acquisition price for 590 Madison Avenue.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elliott Investment Management | Joint Venture Partner | Company | A major investment management firm involved in acquiring 590 Madison Avenue. |
| RXR | Joint Venture Partner | Company | Partnered with Elliott Investment Management in the acquisition of the property. |
| 590 Madison Avenue | Target Company | Company | The property in New York City being acquired in this transaction. |
| Fried Frank | Legal Advisor | Company | Provided legal advisory services to Elliott Investment Management in this acquisition. |
| Apollo Global Management | Financing Provider | Company | Provided the necessary financing for the acquisition transaction. |
| Michael Werner | Partner | Person | Partner at Fried Frank leading the legal team for this transaction. |
| Andrew Ebersbach | Partner | Person | Partner at Fried Frank working on the transaction. |
| Joshua Jun | Associate | Person | Associate at Fried Frank involved in the legal advisory team. |