Univision Renews, Expands at 485 Madison Avenue, Now Fully Occupied
Billy Gray Dec. 13, 2012, 7:45 a.m.
Univision renewed a long-term lease and expanded by 5,500 square feet at 485 Madison Avenue, giving the broadcaster a 21,234-square-foot presence there and pushing the building to 100-percent occupancy.
America’s largest Spanish-language radio company now leases the entire third floor and part of the second floor of the Jack Resnick & Sons-owned building on Madison Avenue at 52nd Street. Dennis P. Brady and Fran Delgorio represented Jack Resnick & Sons in-house. Michael Gottlieb and Martin Cottingham of Avison Young represented the tenant. Mr. Brady and Ms. Delgorio have led a leasing campaign at the 25-story, 300,00-square foot building, which previously served as CBS headquarters and the transmission point of Orson Wells’ famous “War of the Worlds” broadcast.
Independent public relations firm Robert Marston and Associates Inc., financial services consultant S.D. Daniels & Co. and law firm Klein Zelman Rothermel LLP are among the other tenants who signed there in recent months, for asking rents of $55 per square foot.
Mr. Brady attributed 485 Madison’s success to recent upgrades that brought energy-efficient windows and central air conditioning as well as modernized elevators. “The lease-up is a testament to our ambitious building-wide capital improvement program, which has helped attract new tenants and retain old ones as well,” he said in a prepared statement.
Univision has had radio stations and marketing divisions in the building since 1995. Avison Young and Jack Resnick & Sons did not respond to immediate requests for comment.