E-commerce company Borderfree.com (formerly Fifty-one Global E-Commerce) expanded and extended its lease for a total 22,226 square at 292 Madison Avenue, The Commercial Observer has learned.
David L. Hoffmann, Jr. and Bryan Boisi of Cassidy Turley represented the tenant. William G. Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the owner, identified as 292 Madison Avenue Leasehold LLC. Asking rent was in the high $40 to mid $50 a foot range, said Michael Reid, a principal at building manager Herald Square Properties.
Regus announced plans to expand its prebuilt office space footprint in Manhattan with four new locations slated for leasing in the coming year. The Luxembourg-based company has 60 such business centers in the tristate area, 26 of which are in New York City.
New locations include 23,000 square feet at 747 Third Avenue, two floors Read More
Goulston & Storrs has inked a deal at the Lipstick Building.
The international law firm will be moving from 750 Third Avenue in favor of a 19,270-square-foot office that spans the entire 18th floor of Argentine-based IRSA‘s 885 Third Avenue.
The floor itself served as the computer and filing floor for Bernie Madoff‘s $65 billion Read More
Arts and Buildings
Famed architect Philip Johnson will get his own retrospective in the lobby of The Lipstick Building at 885 Third Avenue, whose distinct shape he helped design.
The exhibition will showcase 50 years of the architect’s work, which includes Mr. Johnson’s relationship to the Bauhaus arts movement and the history of the lipstick building. It will be curated by Hilary Lewis, who authored two books on Philip Johnson (Philip Johnson: The Architect in his Own Words and The Architecture of Philip Johnson), and the exhibit itself will be designed by Dan Shannon of the architecture firm Moed de Armas & Shannon.
Expect to see rare photographs of Mr. Johnson, along with his building designs and his sketches of the Lipstick Building before the building was constructed.
QlikTech, a maker of business intelligence software, will be taking an entire pre-built office space on the 18th floor of 292 Madison Avenue, The Commercial Observer has learned.
QlikTech beat out a hedge fund for the pre-built space, which is sized at 6,035 square feet and priced at an asking price of $55-a-square-foot, said those close to the deal. The lease is for seven years.
William Cohen of Newmark Grubb Knight Frank represented Marciano Investment Group, the owners of 292 Madison Avenue. A brokerage team from Jones Lang LaSalle represented QlikTech in the deal. Herald Square Properties manages the building on behalf of ownership.
QlikTech becomes the second notable tech company to move into the newly refurbished 292 Madison Avenue, which has been actively pursuing technology firms since the Marciano Investment Group bought into the building’s ground fee and mortgage in 2011.
FiftyOne ECommerce took the 17th-floor pre-built space, also sized at 6,035 square feet, in March. FiftyOne ECommerce also has a fifth-floor space in the building, with a total footprint at 17,148 square feet.
QlikTech is replacing a law firm that moved out of the 18th-floor space after its lease expired.
Lease of the Week
Billy Cohen, an executive vice president and principal at Newmark Knight Frank, was guiding The Commercial Observer through the construction of a new prebuilt office on the 17th floor at 292 Madison Avenue last week when he honed in on the exquisite lighting throughout the space.
Ecommerce business FiftyOne Ecommerce will be moving from its fifth floor offices at 8 W. 40th Street to two floors of pre-built space at 292 Madison Avenue, the NY Post reports.