Lenchner of Sage Realty Corp. acts for Kaufman Org. in four lease deals at 437 Madison Ave.

June 05, 2018 - Front Section

Manhattan, NY The William Kaufman Organization (WKO) continues to experience strong leasing activity at 437 Madison Ave., with the signing of a new lease, two expansions and one renewal at the 40-story, 850,000 s/f trophy property in Midtown East. 

•ACT Commodities, Inc. is expanding and extending its office space with a new 10-year lease of 12,945 s/f on the 17th floor. L. Craig Lemle and Nick Zarnin of Savills Studley represented ACT Commodities in the 10-year leasing transaction.

• Landmark Partners finalized a 10-year, 7,779 rentable s/f lease on the 39th floor. Gordon Ogden and Nick Gilman of Byrnam Wood LLC represented Landmark Partners in the 10-year transaction.

• Global cybersecurity firm Darktrace, is bringing its total presence in the building to 9,710 s/f. Joe Fabrizi of CBRE represented Darktrace in the 10-year transaction.

• Kenner & Co., is renewing its 5,369 s/f space on the 36th floor. 

Michael Lenchner, vice president and director of leasing at Sage Realty Corp. represented ownership in leasing 437 Madison with a Jones Lang LaSalle leasing team of Frank Doyle, Cynthia Wasserberger, David Kleiner, Harlan Webster and Hayley Shoener.Asking rents in the building range from $80 to $110 per s/f.

“Midtown East is continuing to show strength in 2018,” said Lenchner, who added that 437 Madison Ave. benefits from a recently-completed $60 million building-wide redevelopment, which includes a redesigned lobby and arcade area, a new plaza, renovated elevators, upgraded building systems and a 15th floor “sky lounge” with outdoor conference rooms, sunrise yoga classes and spectacular views of St. Patrick’s Cathedral. “This is an exciting time for our building and we look forward to advancing our successful leasing campaign this year.”

437 Madison Ave. is owned by WKO in partnership with the Travelers Companies, Inc. and occupies the entire blockfront between 49th and 50th Sts. It is home to tenants including Munich RE, Mitchell Silberberg & Knupp (MSK), Citizens Bank, Omnicom Group Inc., Medallion Financial Corp. and Kekst and Co. and Carnegie Corp. of New York.