By Sarah Trefethen
With three full floors of space available to lease and a Gensler-designed renovation in the works, the Moinian Group is hoping 60 Madison Ave will make a name for itself in still-hot Midtown South.
The third, fourth and eighth floors of the 13-story, 195,000 s/f building are available for lease through Murray Hill properties. Asking rent is in the low $50s psf.
Floors 3 and 4 were renovated in recent years for Weight Watchers, which has moved out, and total about 38,000 s/f. The two floors are connected by a staircase and while the space is flexible enough to divide into smaller suites, it also provides a rare opportunity for a single user to occupy a large block of contiguous space in Midtown South.
With floorplates that range in size from 16,000 s/f to 18,000 s/f, the marketing team hopes that the building will appeal to slightly larger tenants who are struggling to find a right-sized space elsewhere in the neighborhood.
“There are a great deal of tenants out there in the marketplace that want to be at this building or in this neighborhood at five to 10,000 feet,” said Gregg Weisser, SVP of leasing at The Moinian Group.
Common space renovations are scheduled for the fourth quarter of this year and include a marble lobby interior with all-glass frontage, new windows, new elevator cabs and the addition of security turnstiles.
“Part of what [Joe] Moinian does is he takes these vintage buildings and he provides upgrades and makes them hurtle into the 21st century,” Weisser said. “Joe’s esthetic is very classic. He likes marble; he likes a very uncluttered look.”
Another selling point of the property is its spot overlooking the northern edge of Madison Square Park. On the third floor, the view cuts below the trees and a viewer almost feels like they’re standing on the grass.
“The creative tenants who are coming to this area, they love the idea of being near a park,” said Esther Zar of Murray Hill. The neighborhood’s many trendy lunch spots are also a draw.
Current tenants include the political magazine The New Republic, the advertising firm Strawberry Frog and Envision, a casting company.
When the renovations are complete the landlord is considering re-naming the building 3 Madison Park, emphasizing its prime greenery location and also creating something of a pattern for the developer, which owns 3 Columbus circle and has plans to build a new tower at 3 Hudson Park on the far West Side.
In addition to 60 Madison Ave, Moinian’s Midtown holdings include 295 Madison, 72 Madison, and 245 Fifth Avenue.