Media software platform ZEFR will open its first New York City office in Midtown East through a seven-year, 4,717-square-foot lease for a 15th floor office that includes a 3,600-square-foot wraparound terrace at Marciano Investment Group‘s 292 Madison Avenue, Commercial Observer has learned.
The Venice, Calif.-based software providers that boast clients like YouTube, Saturday Night Live and Adidas will occupy a full floor in a pre-built space designed by architects from the Mufson Partnership with asking rents of $65 per square foot in the building on the corner of East 41st Street that already houses tech tenants like Raptor Trading, Exponential Interactive and Qliktech, said Harry F. Blair, an executive director at Cushman & Wakefield.
“Within a brief period, 292 Madison Avenue has become a center for software and technology-based companies,” Mr. Blair said in a prepared statement. “This new tenant base is clearly attracted to the building’s excellent infrastructure upgrades, contemporary build-outs and unbeatable location.”
Mr. Blair and C&W senior director Sean N. Kearns represented the landlord in the negotiations, while Sam Seiler and Jeff Sharon of CBRE negotiated on behalf of the five-year-old tech firm.
The building offers additional available space for the 11,113-square-foot second floor, the 6,035-square-foot 21st floor and an 8,000-square-foot ground floor retail space that’s currently undergoing interior and exterior renovations, officials with asset manager Herald Square Properties noted.
Officials with CBRE said the brokers involved in the transaction were unavailable for comment.