Five companies have signed lease deals totaling 23,645 s/f at the William Kaufman Organization’s 437 Madison Avenue.
Financial services firm Mercantil Bank (6,007 s/f), software company Fidessa Corporation (4,575 square feet) and fund manager JOHCM (USA), Inc. (3,978 square feet) leased portions of the 40-story tower’s 27th floor.
Insurance firm Guilford Specialty Group, Inc. signed a 5,493 s/f lease for a portion of the 22nd floor. Hedge fund Centenus Global Management, LP, meanwhile, is taking 3,592 s/f at the 19th floor. Asking rents in the building range from $80 to $110 per s/f.
“Our leasing campaign at 437 Madison Avenue has attracted a variety of prominent companies from a wide range industries,” said Michael Lenchner, the vice president and director of leasing at Sage Realty Corporation, leasing and management division of WKO.
The property, built in 1967 and designed by Emery Roth & Sons, sits between East 49th and East 50th Street in Midtown East. WKO recently spent $60 million to upgrade the 850,000 s/f tower. Improvements include a redesigned lobby and arcade area, a new plaza and a 15th floor “sky lounge” with outdoor conference rooms. The building’s tenant roster includes Omnicom Group Inc., Medallion Financial Corp. and Kekst and Company and Carnegie Corporation of New York.
Lenchner, along with a Jones Lang LaSalle team composed of Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster, represented building WKO in all five transactions.
Sinclair Li and James Einstein of CBRE represented Mercantil Bank, N.A.; Bill Levitsky and Andrew Sachs of Newmark Grubb Knight Frank represented Fidessa Corporation; Tom Pfingst and Dani O’Donnell of Atlas Commercial Realty represented JOHCM (USA), Inc.; Kenneth Salzman of Lee & Associates represented Guilford Specialty Group, Inc.; and Sarah Pontius and Hugh McDonald of CBRE represented Centenus Global Management, LP.