Fiducial pays $17.6M to MS Aerospace for office condos in Midtown East

The advisory firm Fiducial pays $12.2M to manufacturer MS Aerospace for five office condominium units at 55 East 59th Street in Midtown East, Manhattan, in two transactions. The expected use is owner-occupied.

In the first, Fiducial through the entity Lady Of America, Inc. paid $12.2 million to MS Aerospace through the entity Ms Realty, Inc. for two office condos at 55 East 59th Street. The deals closed on June 30, 2025 and were recorded on July 7, 2025.
The first two properties have 22,862 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $533 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
In the second, Fiducial through the entity Lady Of America, Inc. paid $5.4 million to MS Aerospace through the entity Ms Realty 2, Inc. for three office condos in the same building.
The second group of units have 11,655 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $463 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for MS Aerospace was Jerome Taieb . The signatory for Fiducial was Georges Leopold. The contract date was June 18, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Fiducial had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller MS Aerospace had not purchased any other properties and had not sold any properties over the same time period.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Midtown East, The majority, or 81 percent of the 62.6 million square feet of commercial built space are office buildings, with hotel buildings next occupying 7 percent of the space. In sales, Midtown East has the 3rd highest sale turnover among other neighborhoods in the city with $2.4 billion in sales volume in the last two years. For development, Midtown East is the 2nd most active neighborhood among other neighborhoods. It had 19.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 31 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On the tax block of 55 East 59th Street, PincusCo has identified the owners of nine of the 10 commercial properties representing 1,049,947 square feet of the 1,202,696 square feet. The largest owner is Vornado Realty Trust, followed by Jpmbb 2014-C24 Madison Avenue and then Titan Golden Capital.
There are no active new building construction projects on this tax block.

The majority, or 95 percent of the 1.2 million square feet of built space are office buildings, with hotel buildings next occupying 4 percent of the space.

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