Oil Company Eni’s North America Division Re-ups 16K-SF Midtown East Offices
The North American division of Italian oil giant Eni SpA has renewed its 15,736-square-foot lease for offices at Jack Resnick & Sons‘ 485 Madison Avenue, Commercial Observer has learned.
Eni USA R&M Co., which produces a variety of oils, brake fluids and antifreeze solutions, will continue to occupy its offices on the entire sixth floor of the 25-story building for an additional five years, which is located between East 51st and East 52nd Streets.
The asking rent in the building is in the $60s per square foot, according to information provided by the landlord. Eni has been housed in the space since 2007.
Daniel Katcher and Michael Ippolito of Newmark Knight Frank represented Eni, while Fran Delgorio and Brett Greenberg of Jack Resnick & Sons handled the deal for the landlord in-house.
“All parties were able to come together collaboratively to negotiate the renewal,” Katcher said in a prepared statement.
In addition to the recent Eni renewal, two new tenants recently signed leases to take part of the building’s fourth floor. Swiss watchmaker Raymond Weil signed a deal for 5,739 square feet and Brazilian-American Chamber of Commerce inked 3,983 square feet. The 305,675-square-foot building is now 98 percent occupied. A 7,500-square-foot space on the 13th floor is available.
“Our in-house leasing efforts at 485 Madison Avenue have attracted a diverse mix of prominent companies,” Jonathan Resnick, president of Jack Resnick & Sons, said in a prepared statement. “These transactions highlight the strength of Madison Avenue as a top-tier destination for best-in-class office space.”
Office tenants at the property include Signature Bank, the Mount Sinai School of Medicine, East West Bank and Hilltop Securities.