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Deals & Dealmakers

Sapir adds two tenants at 261 Madison

Allergan USA, an international pharmaceutical company, and GFT Global, an IT solutions provider, have leased more than 23,000 s/f at the Sapir Organization’s 261 Madison Avenue.

Headquartered in New Jersey, Allergan USA is opening its first New York City office and will occupy the entire 11th floor totaling 17,926 s/f.

GFT Group has committed to 5,648 s/f and will occupy the entire 19th floor of the 28-story Class A office property located in Murray Hill. The CBRE team of Timothy Hay and Brian Hay represented Allergan USA, while their CBRE colleagues Scott Gottlieb and Gary Davies acted on behalf of GFT Global.

CBRE’s Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg and Jared London serve as exclusive leasing agents for 261 Madison Avenue and represented The Sapir Organization in both deals. The average asking rent for the property is in the high $60s psf.

“The 11th floor at 261 Madison was the first full-floor, Gensler-designed prebuilt that Sapir introduced at the property. Allergan was drawn to the customized aesthetic of the installation and the floor’s private outdoor terrace,” said Rothkin,

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