Three companies have signed long-term leases and expansions totaling 35,682 s/f at 437 Madison, the William Kaufman Organization’s 40-story property in Midtown East.
Munich American Reassurance Company is opening a new U.S. Life office after signing a 10-year, 18,650 s/f lease. The company is currently located at 1177 Avenue of the Americas and expects to take occupancy in the fourth quarter of 2017.
Investment firm Eos Management, L.P., has taken a seven-year, 9,576 s/f lease on a portion of the 14th floor. The alternative investment firm plans to move from 320 Park Avenue.
WKO also completed an expansion with law firm Montgomery McCracken Walker & Rhoads LLP, which is expanding to 35,755 s/f spanning the entire 23rd and 24th floors.
The new deals come on the heels of several leasing successes at 437 Madison. Over the last six months, Sage Realty Corporation, the leasing and management division of WKO, has completed new leases with Lighthouse Partners and Prelude Capital.
Michael Lenchner, Vice President and Director of Leasing at Sage Realty Corporation, along with a Jones Lang LaSalle leasing team of Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster, represented building ownership in the transactions.
Nick Zarnin and Craig L. Lemle of Savills Studley represented Munich American Reassurance Company, while Lindsay Ornstein and Lauren Davidson of Transwestern represented Eos Management L.P. Asking rents in the building range from $80 to $110 per square foot.