Gell and Briody of CBRE arrange two office leases totaling 27,300 s/f

The CB Richard Ellis team of Brian Gell and Laurence Briody recently arranged two new leases at 535 Madison Ave. totaling 27,300 s/f. Designed by architect Edward Larrabee Barnes, 535 Madison Ave. is a 37-story, 475,000 s/f office tower, situated on the northeast corner of 54th St. and Madison Ave. Due to its floor plate size ranging from 11,000 to 15,000 s/f, 535 Madison Ave. has been fully occupied for a number of years. CBRE was able to recapture space on two floors and negotiated a 15,000 s/f lease for Monarch Alternative Capital and a 12,300 s/f commitment by Banco do Brasil on behalf of the ownership, Madison Tower Associates Limited Partnership. Monarch will take over the entire 26th floor during the first quarter of 2009. Neil Goldmacher and Arthur Draznin of Newmark Knight Frank represented Monarch in the lease negotiations. Banco do Brasil signed a long-term lease for the entire 34th floor. Jonathan Schindler and Aron Scheier of Colliers ABR acted on behalf of Banco do Brasil.