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.
In December 2011, 41-year-old advertising executive Suzanne Hart began an average Wednesday by entering the elevator in the lobby of her firm’s 285 Madison Avenue headquarters. As she stepped inside, the elevator suddenly leaped upward, tragically trapping Ms. Hart between the elevator and the wall of the now 88-year-old building. Two other elevator passengers, powerless to help, could only look on.
285 Madison Avenue, the building that experienced a fatal elevator failure last year, has been sold.
Y&R, the prominent advertising agency and owners of the building, has decided to sell it to RFR Holding in a partnership with an unnamed real estate investment fund.
Two two, RFR and the investment fund, will perform a $50 million capital improvement program that Read More
The soon-to-be-former Madison Avenue digs of advertising giant Young & Rubicam, where one of its executives was killed in a freak elevator accident last year, is on the market, according to reports.
285 Madison Avenue, a 28-story, 415,638-square-foot building, is currently being marketed by a CBRE team of Darcy Stacom and William Shanahan. Once Young & Rubicam completes Read More
A Cushman & Wakefield team led by David Rosenbloom will be launching its second annual “Spring Into Action Tour,” an event that brings outside brokers into four Midtown office buildings owned by APF Properties.
The event, which is set to take place on April 25, will allow brokers and their clients to explore 1156 Avenue of the Americas, 25 West 45th Street, the newly anointed “Club Row Building” at 28 West 44th Street, and 285 Madison Avenue.
The city Department of Buildings and the Department of Investigation announced the findings today from their investigation into the deadly 2011 elevator accident at 285 Madison Avenue that killed Young & Rubicam executive Suzanne Hart in rather horrific fashion, and both agencies confirmed that maintenance workers failed to repair the elevator up to city safety standards days prior to the incident.
In what is perhaps every New Yorker’s worst fear, an elevator suddenly ascended as a woman was entering it, killing her and injuring two others.
The accident happened at some point around 10:30 A.M. inside 285 Madison —the soon-to-be former home of advertising giant Young & Rubicam.
The NY Post reports:
The victim, Read More