Mortgage Insurance Firm Radian Group Moving to 275 Madison Avenue

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Mortgage insurance firm Radian Group will move its New York City offices to 275 Madison Avenue in Midtown, Commercial Observer has learned.

The Philadelphia-based company signed a five-year lease for 4,677 square feet on the entire 15th floor of RPW Group’s 43-story building between 39th and 40th streets, according to a source with knowledge of the deal. Asking rent was $70 per square foot.

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Radian — which has outposts in Maryland, Ohio, Utah and Colorado — currently has its New York City offices at 1450 Broadway, the source said. It plans to move into its new digs in September.

Sam Seiler of JLL represented Radian, while Newmark’s Jarad Winter and Billy Cohen handled it for the landlord. Seiler declined to comment. 

“We are looking forward to having Radian join the prestigious tenant roster at 275 Madison Avenue and we are very pleased with our leasing activity at 275 Madison Avenue as the market rebounds,” Winter said in a statement.

Other tenants in 275 Madison include Lord & Taylor owner Saadia Group, Rosen Law Firm and Riemer & Associates, another law firm.

Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.