The Olayan Group today announced that investment advisory firm Junto Capital Management has signed a lease for 25,000 square feet at 550 Madison Avenue, the landmarked office building located between East 55th and 56th streets in Midtown Manhattan.
Junto Capital Management will take the entire 33rd floor at 550 Madison in a long-term
commitment, relocating from 450 Park Avenue and expanding its previous office footprint.
Originally designed by Philip Johnson and John Burgee, 550 Madison is globally recognized for its iconic postmodernist architecture. The 41-story, 800,000-square-foot office tower recently completed a comprehensive repositioning that transformed the space into a dynamic multi-tenant office space with market-leading amenities.
“We are pleased to welcome Junto Capital Management to 550 Madison’s growing roster of elite tenants,” said Erik Horvat, Head of Real Estate at Olayan America. “The property offers a superior environment that supports employee engagement, promoting wellness, collaboration and creativity through a world-class program of amenities.”
The Olayan Group recently completed an agreement with Simon Kim’s Gracious Hospitality
Management for a dynamic new restaurant concept to be located in 15,000 square feet of space at the base of 550 Madison. Other recent leases include a 10-floor, 240,000-square-foot lease with global insurance giant Chubb Limited; a three-floor, 72,000-square-foot headquarters lease with luxury brand Hermès, and a 24,000-square-foot lease with global specialist investment firm Corsair Capital LP. The building has also opened three food and beverage kiosks in its new public garden.
550 Madison’s vibrant, 21,000-square-foot public garden is East Midtown’s largest new green space. The building has also partnered Rockwell Group to design an exclusive amenity space for tenants on the building’s club level, which features a host of food and beverage options and gathering spaces, including a library curated by luxury publisher Assouline.
550 Madison boasts 14-foot high ceilings; large, column-free floor plates; north, south, east, and west-facing views of New York City; river to river sightlines; and offices overlooking Central Park. The LEED-platinum building also offers extensive sustainability features, including a dedicated outdoor air system (DOAS), which infuses the building with abundant, fresh, purified outdoor air, improving both health and productivity.
To learn more about 550 Madison and its renovation, visit www.550madison.com.