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Deals & Dealmakers

Savills Studley negotiates leases at One Grand Central Place, 595 Madison

Tenant representation specialists Savills Studley has closed two transactions totaling 31,856 s/f.

Executive vice president Daniel Horowitz, executive managing director Jeffrey Peck and managing director Gary Kerper negotiated the transactions on behalf of the tenants, Haver Analytics Inc. and Albea Beauty Solutions USA, LLC.

In the first transaction, Haver Analytics, a provider of time series data for the global strategy and research community, will remain at One Grand Central Place in a total of 19,073 s/f.

The data company will renew its existing 16,402 s/f offices across the entire 33rd and partial 34th floors and expand by an additional 2,671 s/f within the 34th floor.

Haver Analytics’ office space will undergo upgrades to assist with their corporate growth.

The landlord, Empire State Realty Trust, was represented inhouse by Julie Christiano and Lindsay Godard.

In the second transaction, Albea Beauty Solutions, a leader in beauty, personal care, oral care and pharma packaging, has renewed its 12,783 s/f lease across the entire 10th floor at 595 Madison Avenue.

According to Horowitz, Albea Beauty Solutions toured a number of alternative locations, but ultimately renewed due to the landlord’s ability to create a compelling lease package that provided lower rents than it was previously paying and enabled the company to remain in a desirable location close to important clients, such as Estee Lauder and Revlon.

The landlord, Fuller Madison LLC, was represented by Andrew T. Ackerman and Edward Riguardi of Vornado Realty Trust.

Jose Filipe, EVP Americas of Albea Beauty Solutions said, “We have a nearly 20-year history at 595 Madison and we’re pleased to be able to continue that tradition. It’s a premier destination and Vornado has been a good partner to us throughout the process and was able to provide economic solutions that made sense for our business.”

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