Investment Manager Signs Lease at 285 Madison Avenue
By Gus Delaporte May 20, 2014 10:00 am
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Greylock Capital Management has signed a 10-year lease for the entire 11,400-square-foot 24th floor at RFR’s repositioned 285 Madison Avenue, the landlord announced today.
The full-floor space, which includes a private terrace, will be build out by the landlord. Asking rent was $87 per square foot.
The site of a fatal elevator accident in late 2011, 285 Madison Avenue was sold by advertising firm Y&R to RFR and GreenOak Real Estate Advisors approximately a year later. The landlords immediately began a top-to-bottom renovation of the aging building.
“At 285 Madison, we made a significant investment in order to create a special product, and it’s exciting to see the market begin to embrace the amazing modern work environment we have created within this historic shell,” said Aby Rosen, the co-founder and principal of RFR, in a prepared statement.
Greylock, an investment manager specializing in global credit markets, will relocate its New York headquarters from 99 Park Avenue. The firm’s lease was first reported by The New York Post earlier today.
Mary Ann Tighe, Lee Cross, Stephen Eynon, Evan Haskell and Gregory Tosko of CBRE (CBRE) represented the landlord in lease negotiations. Silvio Petriello and Nick Weld, also of CBRE, represented the tenant.
