News:
Brokerage
Posted: October 1, 2007
Milunec, Sigmon of GVA Williams lease 7,800 s/f
According to GVA Williams, Vedanta Capital LLC has signed a 10-year lease for the 7,800 s/f, two-story penthouse at 540 Madison, a class A office tower owned by Macklowe Properties in the Plaza District. Asking rents for the space are $130 per s/f.
Vedanta Capital was formed in 2006 by Parag Saxena, Alessandro Piol and Howard Goldstein, formerly of Invesco Private Capital. The space will serve as the firm's permanent New York City headquarters.
Jan Sigmon and Paul Milunec of GVA Williams represented the Vedanta Capital in the lease transaction. Andrew Lazarus and Jason Grebin of Macklowe Properties led negotiations on behalf of the owner, with assistance from Cynthia Wasserberger and Randy Abend of Jones Lang LaSalle.
Tags:
Brokerage
MORE FROM Brokerage
NYSCAR June 2026 president’s message - by Mercedes Brien
As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
