Olayan America, in association with Chelsfield, the European property group, has purchased 550 Madison Avenue in New York City.
The property is a landmark that has been known as the Sony Tower and before that the AT&T Building. It is located between East 55th and East 56th streets in the prestigious Plaza District of Midtown Manhattan. It was designed by Philip Johnson and John Burgee and completed in 1984. It is well-known for its Chippendale-style roof pediment and dramatic four-story glass-covered atrium.