Cushman & Wakefield announced today that the real estate services firm has arranged a long term lease for Axonic Capital, a New-York based investment advisor and veteran owned business, at 520 Madison Avenue in Midtown.
Axonic Capital will relocate their headquarters from 390 Park Avenue and occupy the entire 42nd floor of 520 Madison Avenue, totaling 16,167 s/f. Cushman & Wakefield’s Jonathan Luttwak, represented Axonic in the transaction. The landlord, Tishman Speyer, was represented in-house.
“As a commercial real estate landlord and lender ourselves, we took this opportunity to create our own space that reflects our culture and allows for growth.” said Clayton DeGiacinto. “Our goal is to create a productive, bright and comfortable environment for our employees and our clients. 520 Madison, and in particular our floor, met all of our objectives with the added benefit of being in a great location.”
“We followed a comprehensive process and evaluated many great opportunities in the market in various areas in Manhattan. Ultimately, this location allowed Axonic to increase their footprint by 60 percent while meeting all of the desired operational objective.” said Jonathan Luttwak of Cushman & Wakefield. “At 520 Madison, Axonic Capital will have an entire floor, increased natural light, great views, and a quality landlord that supported a lease structure that met the tenant’s real estate needs.”
The new space at 520 Madison Avenue provides infrastructure and column-free areas to build out space tailored to Axonic Capital, as well extensive building amenities including two first-class restaurants, 24-hour staffed security, an outdoor plaza, and a rotating art program in the lobby. The property offers expansive views of Manhattan, including nearby Central Park.
Located in Midtown Manhattan’s Plaza District, 520 Madison Avenue is surrounded by numerous upscale retail and dining options. The property is also located within steps of New York landmarks, like Rockefeller Center, Radio City Music Hall and Carnegie Hall, and also located near the 5th Avenue – 53rd Street Subway Station and multiple bus stops.