DLA Piper represented ASB Real Estate Investments (ASB), a division of ASB Capital Management, in the recent sale of 400 Madison Avenue, a 180,000-square-foot office building near New York City's Grand Central Station, for US$194.5 million to Daishin Securities, a Korean financial services company. ASB completed the transaction on behalf of its Allegiance Real Estate Fund, a US$7.3 billion core investment vehicle.

The 21-story landmarked building, located between 47th and 48th streets, was constructed in 1929 and was purchased by ASB in 2012. ASB completed a common area renovation, façade overhaul, and a spec suite program, which positioned 400 Madison as a best-in-class boutique building.

The DLA team representing ASB Real Estate Investments was led by partner Barbara Trachtenberg(Boston), and also included associate Taylor Tremble (Boston).