Mudrick Capital, an SEC-registered investment advisory firm, has signed an 11-year lease for 12,400 square feet on the sixth floor of Mitsui Fudosan America’s 527 Madison Avenue between East 53rd and East 54th Streets, Commercial Observer has learned.
Built in 1986, the Class A commercial property at 527 Madison Avenue is 26 stories and is comprised of 236,000 square feet. Mitsui Fudosan America acquired the building in 2008 from Deutsche Bank for $225 million, according to CoStar.
DTZ’s James Frederick, Peter Occhi and Christine Colley represented the landlord in negotiations.
“The Plaza District continues to be a highly desirable area for financial service firms, and Mitsui Fudosan’s commitment to developing 527 Madison Avenue into one of the premier Class A buildings in the area has elevated it to become a preferred destination for high-end money managers and hedge funds,” said Mr. Frederick in prepared remarks.
JLL’s Patrick Heeg handled Mudrick in its relocation from 477 Madison Avenue. Mr. Heeg declined to comment.
Mudrick Capital is far from the only financial services firm that has space at 527 Madison Avenue. Long Pond Capital, Wunderlich Securities, Sumitomo Trust & Banking and Meru Capital call the office building home.