Cresa brings 777 Partners to Posh Penthouse offices at One Madison Avenue
Manhattan, NY Cresa Global Inc. (Cresa) managing principal Peter Sabesan and principal Gregg Cohen have arranged a 15-year lease for the new 18,476 s/f New York City headquarters of 777 Partners at One Madison Ave., a premier office tower being developed by SL Green Realty Corp. The multi-national alternative investment platform, based in Miami, with additional offices in Newport Beach, CA, and London, leased the full 27th floor penthouse space highlighted by views of Madison Square Park and downtown from floor-to-ceiling windows.
“One Madison Ave. is already considered a world-class paradigm for repurposing time-honored properties with 21st century design and the highest level of sustainable elements,” said Sabesan. “Our client was immediately attracted to its many benefits and, as the first tenant, the opportunity to take charge of its own workspace design.”
Cresa’s managing principal/project management James Pirot and senior vice president/project management Ronald Zeccardi will oversee the construction and development of the 777 Partners interior workspace.
Cohen said, “SL Green’s in-house leasing team was flexible and responsive. Now that the lease is fully executed, our project management division will step in to provide a one-of-a-kind office environment.”
When completed in late 2024, One Madison Avenue will present an exciting 500,000 s/f all-glass tower designed by Kohn Pedersen Fox, developed atop an elegant mid-century limestone base. Among the building’s many amenities will be a Chelsea Piers Fitness Center, a 13,000 s/f French steakhouse and 11,000 s/f artisanal marketplace operated by Daniel Boulud, a 7,000 s/f tenant-exclusive lounge with direct elevator, and an 11,000 s/f landscaped rooftop featuring 5,400 s/f of event space.
The in-house team representing the landlord, SL Green, included Steven Durels, senior vice president, and David Kaufman, senior vice president. Asking rent for the space was $200 per s/f. 777 Partners will be relocating from 114 West 47th Street in late 2024.