Cresa arranges lease renewal for LSTA at 366 Madison – 6,851 s/f

Manhattan, NY Cresa principal Gregg Cohen and vice president Nicholas Markel have negotiated a 10-year renewal lease at 366 Madison Ave. for the Loan Syndications and Trading Association (LSTA). The trade association has occupied its 6,851 s/f, 15^th floor offices for nearly 17 years. The building, which is located between 45^th and 46^th Sts. in the Grand Central District, is owned by Ponte Gadea.

The landlord was represented by Stephen Bellwood, executive director, and Gordon Hough, director, Cushman & Wakefield. Asking rent was $70 per s/f.

“Despite a surfeit of office space in the area, we determined that renewing the lease met our client’s criteria, while offering great value,” said Markel.

“The landlord’s representatives were open to negotiating flexible lease terms that also included refreshing the space with paint and new carpeting.”