APF Properties acquired 636 Avenue of the Americas in 2004 for $29 million. The building is situated in between two of Manhattan’s most fashionable and trendy locations – the Flatiron District and Chelsea. The 82,000-square-foot building was constructed in 1915, and its classic, turn-of-the-century architectural details remain fully intact. After leasing all vacancies, APF Properties was able to pay out an annual return of over 5% to its investors during its hold period. As the investment sales market improved in 2010, the firm sold this asset in a competitive process for over $45 million.