Sage Realty Corporation, the leasing and management division of the William Kaufman Organization (WKO), announced that global investment firm Cambridge Associates is relocating and expanding within 437 Madison Avenue,
The firm, which currently occupies approximately 5,000 square feet on a portion of the 22nd floor of the 40-story, 850,000 s/f tower in the Plaza District, is moving its operations to a new 10,191 s/f pre-built office suite on the 39th floor, a move that doubles its presence in the building.
The last pre-built available in the building is on the 34th floor at 3,551 rentable square feet.
“We are excited to be upsizing at 437 Madison. Our clients, colleagues and investment partners all value its location in the heart of Midtown, and we remain committed to our presence in New York for years to come,” said Jeff Blazek, Head of Healthcare Practice and Regional Head for New York at Cambridge Associates.
Founded in 1973, Cambridge Associates works with endowments and foundations, pension plans, healthcare systems, and high net worth private clients to implement and manage custom investment portfolios. The firm maintains offices in major financial centers across the globe, with its corporate headquarters in Boston.
“We are thrilled to expand our relationship with this prestigious investment firm at 437 Madison Avenue,” said Michael Lenchner, Vice President and Director of Leasing at Sage Realty Corporation.
“This transaction is a perfect example of the timeless appeal of our building, our strong Midtown location, and our commitment to working with our tenants as their space needs grow and evolve over time.”
“We were thrilled to help facilitate and expand Cambridge’s presence in such an ideal location for them,” said Alex Benisatto, Senior Vice President at CBRE.
Michael Lenchner and Jack Brennan with Sage, along with the Jones Lang LaSalle leasing team of Frank Doyle, David Kleiner, Cynthia Wasserberger, Andrew Coe, and Georgina Cook, represented building ownership in the transaction. Alex Benisatto and Ryan Alexander of CBRE represented the tenant.
Built in 1967 and renovated in 2015, 437 Madison Avenue includes a grand lobby and arcade area, outdoor plazas and seating areas, upgraded building systems and an 8,870 s/f wraparound terrace on the 14th floor designed by Fogarty Finger, with spectacular views of St. Patrick’s Cathedral. The tower occupies the entire blockfront between 49th and 50th Streets.
Other major tenants include reinsurer Munich American Reassurance Company; Citizens Bank; Carnegie Corporation of New York; law firm Wiggin and Dana LLP; global strategic communications firm Kekst CNC; and specialty finance company Medallion Funding Corp.