Marx Realty inks 17,500 s/f renewal/expansion with Vialto

Manhattan, NY According to Marx Realty, private equity firm Vialto Group has signed on for an additional 10,000 s/f of space at 545 Madison, expanding its presence in the building to 17,500 s/f. The firm’s space commitment now spans two floors at the Plaza District office building. The building, which became known as the Baccarat Building after Marx Realty forged a first-of-its-kind office co-branding partnership with the renowned lifestyle house Baccarat.

A Cushman & Wakefield team led by Tara Stacom represented Marx Realty while David Dusek, also of Cushman & Wakefield represented Vialto Group. The asking rent for the second floor space was $95 per s/f and the building’s asking rents range from $95 to $165 per s/f.

“The hotel-like sensibility, combined with our commitment to creating beautiful spaces, in this case in partnership with Baccarat, continues to attract high-profile tenants seeking a top-to-bottom sensory experience,” said Craig Deitelzweig, president and CEO of Marx Realty. “As is typical across our portfolio in New York and DC, existing tenants almost always choose to grow in place at Marx properties, and we’re thrilled to see Vialto more than doubling its footprint at 545 Madison. The hospitality-infused, club-like aesthetic we pioneered is just that special.”

In line with the world’s finest hotels, a uniformed doorman is posted at the entry to 545 Madison. Upon entering the building, the reimagined lobby and entryway have been fitted with stunning Baccarat chandeliers while the Baccarat signature scent creates a multisensory experience to welcome tenants and guests. The eighth-floor Leonard Lounge, with its well-appointed café and landscaped terrace, also features Baccarat fixtures, barware and accessories, adding an extra touch of refinement to the space. Even the building’s house car, an electric Rivian, carries the Baccarat experience, with the brand’s signature scent subtly infused into its ventilation system.

545 Madison fuses a glamour and elegance with a with a warm and welcoming ambiance that appeals to office users ranging from financial services firms to luxury brands. Current tenants include financial software and applications developer GTS (the first to sign at 545 Madison soon after Marx Realty presented its plans for the building); private equity firms Millenium Partners, Snow Phipps, Kohlberg, and Orangewood Capital as well as additional top-tier wealth management and private equity firms.