Canaccord Genuity, a global full-service investment banking firm focused on growing companies, is leaving 535 Madison Avenue and has subleased its space to two new tenants, the largest among them MediaMath.
The firm operated out of the second and third floor of the building, two floors that were designed with a high-end financial services installation. Notably, the two floors served different purposes with the second floor utilizing an office-intensive layout and the third floor serving as a trading floor featuring sixty desks.
MediaMath, currently headquartered on the 21st floor at 1440 Broadway, will house its Adroit Digital unit at 535 Madison Avenue taking the 11,889-square-foot third floor. Additionally, Jaguar Growth Partners will take the second floor, a space spanning 11,429-square-feet.
Both transactions were brokered by Kelly Broderick and Robert Thuss, Jr. at Cushman & Wakefield. The pair declined to comment on the deal.
Located on the corner of 54th Street and Madison Avenue, the 500,000-square-foot building is one of the several assets in owner and developer Park Tower Group’s portfolio, including notable buildings like Park Avenue Tower, 499 Park Avenue, and Foley Square Courthouse.
Space across the portfolio is limited, especially at 535 Madison Avenue. As of now, there are only two floors are available in the building, a 11,889-square-foot space on the sixth floor and a 14,765-square-foot space on the twenty-third floor.