Plural Capital Heads to 545 Madison Avenue’s Modern Glass Tower
Jotham Sederstrom Oct. 12, 2011, 12:16 p.m.
Plural Capital finalized a lease for nearly 4,000 square feet at 545 Madison Avenue, LCOR’s LEED-certified Plaza district building, brokers told The Commercial Observer. Following a flurry of recent leases at the modern glass tower, Plural Capital, a Brazilian financial services firm, took the entire eighth floor, a prebuilt space, in the 142,000-square-foot building. David Sigman, executive vice president at LCOR, said the amount of interior light was a big attraction for the tenant. The relatively small floor plans at 545 Madison help with efficiency and light, and made LEED-certification easier, according to Mr. Sigman. Asking rent was $85 per square foot. This is the Brazilian investment bank’s first office in Gotham, and it joins a roster of mostly financial services firms in the building.
After redoing the building in 2008, most of the space was left raw. “The bulk of the offices are built to suit, but when we first started we prebuilt two floors, and this is the first time that one of those has turned over,” said Mr. Sigman. Recently, the building’s ninth floor was leased to shipper Universal Maritime while Cliffwater LLC leased 9,000 square feet in September. Ruth Colp of Haber Wharton Property Advisors represented the tenant, and LCOR was represented by a CB Richard Ellis team of Sloan Rhulen, Gregg Rothkin and Paul Milunec.