Pharma-Tech Company Stays Put in Midtown South

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Pharmaceutical research company Target Health has renewed a lease for its offices at Sapir Organization’s 261 Madison Avenue in Midtown South, Commercial Observer has learned.

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The pharma-tech firm inked a deal for 11,284 square feet on the 23rd and 24th floors of the 28-story commercial tower between East 38th and 39th Streets, according to information from Norman Bobrow & Company. The asking rent was $75 a square foot, and the length of the lease wasn’t immediately available.

Eli Joseb of Sapir Organization represented the landlord in the deal. David Badner of Norman Bobrow handled the transaction for Target Health.

The 50-person outfit has occupied the 24th floor of the building since 2001, and then it expanded to the 23rd floor in 2006.

“The tenants really love and appreciate the amazing views and the full service quality of this building,” Badner said in prepared remarks. “Few other buildings compare with that.”