Real Estate Weekly
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RFR adds two new tenants to recently purchased tower

477 Madison

RFR has signed two new financial firm leases totaling 20,739 s/f at 477 Madison Avenue, 60 days after acquiring the property and launching a capital improvement program to elevate the quality and prestige of the building.

Atlas Merchant Capital and Atlantic Street Capital signed leases at the 325,000 s/f 24-story office building located on the northeast corner of 51st Street and Madison Avenue overlooking St Patrick’s Cathedral.

Atlas Merchant Capital, which invests in market opportunities in the financial services sector, signed a 12,334 s/f lease for the top two full floors.

Atlantic Street Capital will open its first New York office by taking 8,405 s/f on the 11th floor of the tower.

“Since taking ownership and revealing our repositioning story we have received strong interest in our availabilities,” said AJ Camhi, senior vice president at RFR, who is overseeing the in-house leasing team. “Prototypes of the new windows, railings and landscaping and new façade color are already on-site for viewing.”

RFR has commenced a reinvention of the building featuring a full façade facelift and new large windows, new retail storefronts, enhanced landscaped terraces with glass balcony railings, and new efficient mechanical systems.

The lobby is currently exhibiting works by Jeff Koons and Katherine Bernhardt. A new tenant amenity space will provide conference rooms for large and small meetings as well as a town hall setting. Additionally, there will be lounge, recreation and fitness areas.

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