A Pillsbury real estate team has advised an affiliate of Korean investment bank Daishin Securities on its acquisition of the 400 Madison Avenue property in New York from ASB Capital.

The $194.5 million deal for the landmark building—a 22-story, approx. 200,000-square-foot commercial property situated between 47th and 48th Streets—closed earlier today. The Macklowe Organization, which currently manages the property, will continue to do so upon completion of the sale.

Pillsbury partners Caroline Harcourt and Paul Shapses co-led the legal team advising Daishin on the high-profile real estate deal. Associates Christian Scarlett, Christopher Fennell and Alexander Walker were also heavily involved.