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Deals & Dealmakers

RFR Realty closes 83,000 s/f deal at 350 Madison Avenue

Realty LLC announced London-based AlphaSights, Inc. has renewed and extended its lease by an additional 17,690 s/f for a total of 63,832 s/f at 350 Madison Avenue, a 25-story, 400,000 s/f office tower located in Midtown Manhattan’s Grand Central district.

Additionally, Burford Capital LLC, a leading global finance firm focused on law, signed a new 10-year, 19,516 s/f lease at the office tower.

AlphaSights, a professional services firm that provides global knowledge search capabilities and has been at the building for two years, will take possession of the entire 16th floor in the first quarter of 2019, in addition to its current space on the 12th, 14th and 15th floors of the office tower. The lease expansion was negotiated on behalf of RFR by Director of Leasing AJ Camhi and Vice President of Leasing Ryan Silverman, along with a JLL team that includes Alexander Chudnoff, Mitchell Konsker, Daniel Turkewitz and Diana Biasotti. AlphaSights was represented in the transaction by Rob Lowe of Cushman & Wakefield.

Burford is taking the entire ninth floor at 350 Madison Avenue. The lease was negotiated on behalf of RFR by Mr. Camhi and Mr. Silverman, along with a JLL team that includes Mr. Konsker and Mrs. Biasotti. Mr. Chudnoff and Mr. Turkewitz acted on behalf of the tenant, Burford, in the lease negotiations.

“We continue to experience strong leasing momentum at 350 Madison Avenue,” said Mr. Camhi. “The new commitment by Burford and the expansion by AlphaSights are further testament to the quality of this asset that currently has only one available space – the entire 8,559-square-foot 21st floor – which has a beautifully built-out and furnished terrace.”

RFR recently completed a comprehensive renovation of the property included the redesign of the building’s two-story, sky-lit lobby. It includes new creative interior landscaping, a rotating museum-quality art program currently exhibiting paintings by David Salle and prints by Andy Warhol, and a coffee bar and convenience stand as additional amenities. The exterior has a new two-story storefront and entry canopy that provides a strong sense of arrival and prestigious building identity.

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