Sublease for Floor at ‘Brighter, Bouncier’ 360 Madison
By Laura Kusisto February 3, 2011 4:04 pm
reprints360 Madison Avenue
“Can it be,” queried architecture critic James Gardner a few years ago in the New York Sun, “that 360 Madison Avenue, which seems to have sprung up out of nowhere on the northwest corner of 45th Street, is the best new building in midtown in over a generation?”
Well, Communication Partners Group, which creates promotional literature for medical professionals, certainly seems to think so. “We scoured the market for office space that would satisfy all of our clients’ requirements,” said Studley‘s Nicholas Farmakis, who represented the tenant along with John Mambrino. “As a result of our efforts, we were able to achieve a below-market deal with very little out-of-pocket expenses for our client.”
The tenant has signed an eight-year, 21,891-square-foot sublease for the fourth floor of Stawski Partners‘ 360 Madison, just up the street from 330 Madison, where it’s currently located. The former Abercrombie & Fitch building underwent a total redo in 2002, and is now a “lighter, brighter, bouncier and more inventive” example of what the city’s buildings should be, according to Mr. Gardner.
“We are grateful for Studley’s persistence and guidance over the past year,” James Bargon, CEO and president of Communication Partners, said in a statement. “John and Nick insisted we keep several options alive. Thanks to them, we are moving to a significantly nicer space and better location than I could have imagined at a price well below going rates.”
The PR firm will sublease the space from Bank of Montreal, represented by Michael Liss of CB Richard Ellis.
lkusisto@observer.com
