New York, NY According to Jack Resnick & Sons, four companies have signed leases and renewals totaling 31,472 s/f at its Plaza District tower, 485 Madison Ave.
In the largest transaction, global energy company Eni USA R&M Co. Inc. (formerly American Agip) has renewed its 15,736 s/f lease on the entire 6th floor of the building. ENI’s North American headquarters has been housed in the space since 2007, and its new lease now extends through 2022.
In addition, three new tenants have each leased a portion of the property’s 4th floor, totaling 15,736 s/f. Among the new arrivals are Raymond Weil, the Swiss watchmaking company (5,739 s/f); nonprofit organization the Brazilian-American Chamber of Commerce, Inc. (3,983 s/f); and lastly, an unnamed, soon-to-launch communications venture (6,014 s/f).
“Our in-house leasing efforts at 485 Madison Ave.have attracted a diverse mix of prominent companies,” said Jonathan Resnick, president of Jack Resnick & Sons.
“These four transactions highlight the strength of Madison Ave. as a top-tier destination for best-in-class office space.” These new deals bring the property to 98% occupancy, with only a 7,500 square-foot unit remaining available on the 13th floor. The firm intends to pre-build the remaining space with high quality finishes and a flexible layout, creating move-in ready space for any tenant seeking quality space in a desirable, midtown location.
Fran Delgorio and Brett Greenberg of Jack Resnick & Sons represented the building owner in all four leasing transactions. Daniel Katcher and Michael Ippolito of NGKF represented Eni. Jonathan Schindler of Cushman & Wakefield represented the Brazilian-American Chamber of Commerce Inc., Snezana Anderson and Bernard Weinstable of CBRE represented Raymond Weil and Jared Stern of Savills Studley represented the new communications venture.
Asking office rents at the property are in the $60 per square foot range. Built in 1929 and designed by architect J.E.R. Carpenter, 485 Madison Avenue was acquired by Jack Resnick & Sons in 1976 and has received a full capital improvement upgrade. Combining the craftsmanship of the past with today’s modern infrastructure, the property has achieved Gold certification under the U.S. Green Building Council’s LEED rating system, as well as WiredScore Gold certification. Anchored on the ground floor by the restaurant Fresco by Scotto, the property is also home to Signature Bank, the Mount Sinai School of Medicine, East West Bank, Hilltop Securities, Inc., and Janover LLC.