By Linda O’Flanagan
Signature Bank has signed a 28,000 s/f lease at 261 Madison Avenue.
The new lease consists of 18,000 s/f of office space in the tower and 10,000 s/f of retail space.
Signature already occupies space at the 28-story office tower located between Midtown and Midtown South. The expansion was negotiated by Howard Kaplowitz, of Colliers International, who represented Signature Bank,and Bruce Mosler and Alan Wildes of Cushman and Wakefield, who represent ASRR, the property owners.
“We are extremely pleased by the momentum we have seen at 260-261 Madison and throughout our entire NYC portfolio,” said Alex Sapir, of ASRR, who owns the building with Rotem Rosen.
Rosen also revealed that New York’s first Zuma restaurant will also in the building. The restaurant will occupy 23,000 s/f in what Rosen called a “partnershipˮ between Zuma founder and chef Rainer Becker, himself and Sapir.
The retail at 261 Madison was being marketed for $250 psf.
ASRR said it plans to unveil a brand new façade/storefront in conjunction with the opening of Zuma’s space.