Cassidy Turley has negotiated three leases with current tenants at 477 Madison Avenue totaling 63,382 s/f for Trepp, LLC, Bankrate, Inc. and Elara Capital PLC.
David L. Hoffman, Jr., executive managing director, principal, and Whitnee Williams, associate vice president, of Cassidy Turley, represented owner JAB Madison Associates in all three transactions. The Trepp and Elara leases were direct transactions, and Dave Armento, CEO of New Dominion, represented Bankrate.
Trepp, LLC, a provider of information, analytics and technology to the CMBS, commercial real estate and banking markets, leased an additional 6,384 s/f on the second floor, bringing its total office space to 40,489 s/f, and extended its lease term for five years.
Bankrate, Inc., an online aggregator of financial rate information, expanded its existing space by 5,178 s/f and now occupies the entire 18,763-square-foot fourth floor at 477 Madison Avenue.
And Elara Capital PLC, an investment bank catering to the funding needs of growth-hungry Indian mid-market companies, renewed its 4,130 s/f lease on the second floor.
“Obviously, it’s a terrific vote of confidence in the building when three important tenants elect to renew, expand or both, especially when there are so many competitive options out there,” Hoffman said. “We are thrilled Trepp, Bankrate and Elara are prospering at 477 Madison.”
