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May 10, 1994

IBM SELL MADISON AVENUE ADDRESS

By CBR Staff Writer

IBM Corp’s famous 590, Madison Avenue Manhattan building – ICL Plc had a suite high in the building across the way, and liked to say it was one of the few places in the world where it could look down on IBM – is IBM’s no longer: it has agreement to sell the building to a property partnership of Odyssey Partners LP and developer Edward Minskoff for an undisclosed sum estimated at $200m, and will lease back about a third of the building.

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