Hudson Ferry Capital, a private equity firm, will be moving up the street from 295 Madison Avenue to 275 Madison Avenue.
The old location was an irregularly shaped floor that provided poor lighting and space for some of the personal offices of the partners. Hudson Ferry Capital sought to “upgrade their office environment and occupy more efficient space,” Mitchell Waldman, president of Cogent Realty Advisors, Inc. and broker for the tenant, commented on the deal.
“At 275 Madison Avenue the floor is a clean rectangle and there is abundant light and panoramic views north, south, east and west. Each of the five p
artners has a large windowed office,” he further commented, “Glass walls permit light to enter the interior of the floor where support staff are positioned. The conference room is designed with a capacity of fourteen.”
The new office will occupy 3,500 square feet on the 31st floor of the 329,000 square foot building. The asking rent was $48 per square foot.
The landlord, RFR Realty was represented by in-house broker Oliver Katcher. In addition to 295 Madison, RFR Realty owns over a dozen properties in New York, Miami, and Los Vegas. Their most noteworthy assets are the Lever House at 390 Park Avenue and the Seagram Building at 375 Park Avenue in New York.
275 Madison Avenue was designed by Kenneth Franzheim and built in 1931, receiving recognition as a landmark in 2009 as a classic art deco building. RFR acquired the leasehold and fee interests in separate transactions in 1998 and 2004.