Alok Industries Inks Deal at 105 Madison Avenue
Gus Delaporte Oct. 3, 2013, 7:30 a.m.
Global textile manufacturer Alok Industries has signed the larger of two new long-term leases at 105 Madison Avenue, The Commercial Observer has learned.
The Mumbai-based company will relocate its New York office from 7 West 34th Street after snapping up 17,600 square feet across the entire fourth floor and part of the fifth floor at the A&R Real Estate building.
Elsewhere in the building, Prosek Partners has signed a 13,350-square-foot lease for the entire seventh floor. The public relations firm will relocate from the Empire State Building at 350 Fifth Avenue. Previously known as CJP, Prosek counts ING, General Electric and Genworth Financial among its list of clients.
The 267,000-square-foot Class A building at 105 Madison Avenue boasts a client roster that includes HBO, Domain Select, Empire Office Furniture and others. Asking rent in the building ranges from the high-$40s per square foot on the lower floors to the high-$50s on the available 16th floor.
“This is a pristine and immaculate building that includes tenants from a variety of industries, which is reflective of the vibrancy of the neighborhood,” said Paul Davidson, senior managing director at Newmark Grubb Knight Frank, who represented the landlord, in a prepared statement. “The owner loved the idea of welcoming these prime, creative tenants and helped make the space work for them by offering tenant generous improvement packages.”
Mr. Davidson represented landlord A&R Real Estate alongside Michael Frantz. Alok Industries was represented by Barry Bernstein and Evan Lieberman of EVO and Scott Bloom of Bloom Real Estate. Joe Weinberg of DTZ represented Prosek Partners.