Africa Israel USA has sold the Clock Tower Building at 5 Madison Ave. in New York City to hotel chain Marriott International, Inc. for $165 million, or almost $618 per square foot.
The 41-story, 267,000-square-foot office tower was built in 1909 in the Gramercy Park submarket near Madison Square Park.
One of Manhattan's earliest skyscrapers, the landmark building was originally constructed and occupied by Metropolitan Life Insurance.
