Clocktower Closes

The Clocktower at 1 Madison Avenue officially belongs to Lev Leviev.

The building went to contract for $200 million in May to Leviev's Africa Israel, which purchased it from SL Green, Aby Rosen's RFR Holding and Ian Schrager.

Now, thanks to public records, we see that the turnaround on the deal was lightning fast. The deal went to contract on May 14 and closed on June 20, according to the deed -- only a five-week turnaround. It's all the more amazing for SL Green and its ownership partners considering that the building went on the block in early May. If given a normal bidding process, one could assume the building's sale would've been under contract by July and closed by August.

Instead, SL Green was able to proudly report at its quarterly conference this week that it sold the famous tower, an offer CEO Marc Holliday described as an offer too good to pass up.