Market Research Firm Takes Full Floor in NoMad Move
MMR Research Worldwide has signed a five-year, 5,909-square-foot lease in NoMad, according to landlord Kaufman Organization.
The global market consulting and research agency is taking the entire eighth floor of the 11-story building at 15 West 27th Street between Broadway and Fifth Avenue.
“The building continues to attract a variety of high-quality companies seeking a premier office destination that is centrally located in Manhattan, and we are confident the building will continue to experience success,” Michael Heaner, a partner at Kaufman, said in a prepared statement.
MMR Research will be moving into its new digs next month. The asking rent for the space was in the low-$70s per square foot, according to Crain’s New York Business. Its current New York City address is at 275 Madison Avenue between East 39th and East 40th Streets.
Heaner represented Kaufman in-house with colleagues Grant Greenspan and Elliot Warren, while Jake Cunningham of Velocity Real Estate represented the tenant. Cunningham did not immediately return a request for comment.
Kaufman secured 99-year ground leases for 15 West 27th Street, 119-125 West 24th Street, 19 West 24th Street and 45 West 27th Street through a deal with Extell Development Company in 2014. Last year, Kaufman picked up 155 West 23rd Street via another ground lease with Extell. The properties, formerly known as the Ring Portfolio, have since been rebranded as the Madison Square Portfolio.
In September, United Overseas Bank—an affiliate of China Orient Asset Management—provided a $97.6 million leasehold mortgage to Kaufman for the recapitalization of the Madison Square Portfolio, as Commercial Observer previously reported.