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Deals & Dealmakers

Sapir signs Donnelley at 261 Madison Avenue

The Sapir Organization announced the signing of a 10-year lease with RR Donnelley, a Fortune 500 integrated communications and marketing company, at 261 Madison Avenue.

The $7 billion firm was drawn to prebuilt space in the classic midcentury tower in Midtown East.

The Sapir Organization was represented on the deal by a CBRE team of Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg and Jared London.

The Chicago-based RR Donnelly, which is relocating its New York City office from 99 Park Avenue, was represented by a CBRE team of Dan Knopf and Ben Fastenberg.

“261 Madison really offers the best of what today’s most innovative Fortune 500 firms are looking for in New York City: a classic Midtown tower near Grand Central, but with custom prebuilt space geared specifically toward cutting-edge creative firms,” said Alex Sapir, President and CEO of The Sapir Organization.

“We’re proactively building out modern, high-end spaces across our office portfolio, and this latest in a string of lease deals at 261 Madison is testament to that work.”

261 Madison was purchased by Sapir along with 260 Madison in 1997 and is also home to WeWork.

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