The Rudin Family has announced that two tenants have signed long-term leases for new pre-built units totaling 12,383 s/f at 40 East 52nd Street.
Madison Marquette, a national real estate firm, has signed a seven-year, 7,808 s/f lease comprising a portion of the 15th floor at the 23-story, 350,000 s/f building, which is located between Park and Madison Avenues, with entrances at both 52nd and 51st Streets.
The company is currently located at 461 Fifth Avenue and expects to relocate to the building in the second quarter of 2015.
In the second transaction, Eric Mower + Associates, an independent advertising agency, has committed to a five-year lease for a 4,575 s/f space on a portion of the 12th floor in the building.
The firm, currently a tenant at another Rudin Property, 845 Third Avenue, is moving into the building during the second quarter.
“We are continuously seeing strong leasing activity at 40 East 52nd Street, and we’re delighted to welcome Madison Marquette and Eric Mower + Associates to our building,” said Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of the Rudin Family holdings, who added that “our family’s commitment to delivering best-in-class space and services is our hallmark.”
Robert Steinman of Rudin Management represented the building’s ownership in-house on both transactions.
Jonathan Schindler and Jordan Weiss of DTZ represented Madison Marquette, while Schindler and Brian Boisi of DTZ represented Eric Mower & Associates.
Asking rents for office space at 40 East 52nd Street range from $60 to $70 psf.
According to Steinman, the property is fully-leased, and boasts a diverse roster of financial, media and professional services tenants, including BlackRock, Evercore Partners and Business Wire.