RFR Realty secures two leases at 285 Madison: 14,875 s/f to Farfetch.com and 7,813 s/f to LiquidX, Inc.

Manhattan, NY According to RFR Realty LLC, the firm has completed leases for LiquidX, Inc. and Farfetch.com at 285 Madison Ave.

Farfetch.com has signed a new 10-year, 14,875 s/f lease for a full tower floor. The ownership was represented by RFR senior VP and director of leasing AJ Camhi and VP of leasing Ryan Silverman, along with a JLL team consisting of Alexander Chudnoff, Mitchell Konsker, Dan Turkewitz and Diana Biasotti. Bill Peters, Josh Stuart and Christian Allen of JLL represented the tenant. 

“We are delighted that this exciting and progressive luxury fashion hub, Farfetch, has chosen to house its operations at 285 Madison,” said RFR senior vice president and director of leasing AJ Camhi. “The tenant was attracted to the tower’s excellent location and exceptional on-site amenities.” He added that 285 Madison Ave. is in its final stage of lease up with only two prebuilts remaining in addition to one 15,000 s/f tower floor and one partial 13,000 s/f floor. 

Farfetch just had its $855 million IPO this past September, where shares surged 53% in value in its first day of trading, stamping a valuation of approximately $8 billion on the company. Farfetch was founded in 2007 by José Neves. In October 2008, the startup officially launched, selling products from 25 boutiques in five countries. By 2018, the company had become became a publicly traded powerhouse, boasting partnerships with heavy hitters such as Conde Nast, JD.com, Chalohoub Group, Chanel and department store Harvey Nichols. It also launched technology accelerator Dream Assembly, a mentorship program for select startups worldwide. Farfetch currently ships to 190 countries and offers consumers a range of fashion products. including womenswear, menswear, kidswear, vintage, fine watches and fine jewelry. 

LiquidX, Inc. signed a new 7,813 s/f lease for a partial tower floor. The ownership was represented Camhi and Silverman, with Chudnoff, Konsker, Turkewitz and Biasotti. Matthew McBride of CBRE represented the tenant.

LiquidX was attracted to 285 Madison Ave.’s high-end Prebuilt Program and unique amenity package which includes outdoor roof deck space and multiple indoor amenity spaces including an event space, gym with full shower facilities and a bike room. The LiquidX deal brings the occupancy of 285 Madison Ave. to 94% .

“LiquidX is an excellent tenant and we are excited to welcome them to 285 Madison Ave.,” said Camhi. “We are pleased that this transaction followed on the heels of our recent lease with Farfetch.com which re-affirms our belief that tenants are attracted to our excellent location only 1 block from Bryant Park and Grand Central along with our world class tenant roster and superior amenity offering.”  

LiquidX joins prestigious global firms including Tommy Hilfiger, a MetLife company, Brighthouse Financial, Bessemer Venture Partners, StriVectin Operating Company, General Electric Company and Misys International Banking Systems.

Led by CEO Jim Toffey, LiquidX Inc. is the largest electronic marketplace for the exchange of Trade Finance assets. The trading platform has executed over $21.3 billion of trade volume and processed over $50 billion in post trade settlement to date. Through its leading technology platform and a diverse and flexible pool of capital, LiquidX’s transaction-based marketplace provides a transparent platform for tapping the capital markets to deliver best price execution for Trade Finance assets. 

Acquired vacant by RFR Realty in 2012, the property has been fully transformed and amenitized through a $65 million comprehensive renovation and design upgrade. The property’s amenities include a landscaped roof- top terrace with outdoor lounge and an adjacent indoor amenity space, a large ground floor lounge and event space, fitness center complete with showers and men’s and ladies’ locker rooms, and a bike storage area.  The building lobby also has a rotating contemporary art program, currently featuring works by Peter Dayton, Enoc Perez, and Mike Bidlo. 

The retail component at 285 Madison Avenue is now 100% occupied which has further bolstered the building’s transformation and has enhanced the surrounding neighborhood. Recent retail transactions include The Benjamin Group—the restaurant operator behind the Benjamin Steakhouse and Sea Fire Grill concepts; Popular Community Bank, part of the international financial services group Banco Popular; London-based coffee purveyor Taylor Street Baristas; New York favorite Dos Toros Taqueria; minigrow, a concept from the owners of Honeygrow; and Dr. Smood, a well-established Miami and New York based eatery.