Literary Agency Taking Full Floor at 285 Madison Avenue
By Terence Cullen February 16, 2016 12:01 pm
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Janklow & Nesbit, a literary agency that represents the likes of Malcolm Gladwell and William Buckley, Jr., has signed an 11-year deal to relocate to RFR Realty’s 285 Madison Avenue, the landlord announced in a press release.
The firm is taking 14,875 square feet at the 529,526-square-foot structure between East 40th and East 41st Streets, according to the release. RFR didn’t indicate what floor the firm would be on, but The New York Post, which first reported news of the lease, said Janklow & Nesbit will be on the 21st floor.
Asking rents at the building range from the mid-$60s to $80 per square foot, as Commercial Observer previously reported.
AJ Camhi of RFR represented the landlord in-house along with Mitchell Konsker and Alexander Chudnoff of JLL. Paul Amrich and Neil King of CBRE represented the literary agency, and declined to comment via a spokeswoman.
Janklow & Nesbit will be moving from 445 Park Avenue between East 56th and East 57th Streets. The company is in a similar-sized space at its current digs, where CoStar Group lists it leases 15,642 square feet.
RFR and GreenOak Real Estate bought the 90-year-old 285 Madison Avenue in 2012 for $189.3 million from advertising agency Young & Rubicam, after a marketing executive was killed in an elevator accident that revealed the crumbling infrastructure of the building. The structure was virtually empty at the time, and the new owners poured $65 million into rehabbing the property. Since then, the building has become home to Ziff Capital Partners, Greylock Capital Management and The Benjamin Group, which is slated to open a new restaurant in the retail portion of the building, as CO has reported.
