AXA Plans 12K SF Office at 340 Madison
By Rebecca Baird-Remba July 5, 2022 4:34 pm
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AXA Investment Managers is relocating within Midtown East to RXR’s 340 Madison Avenue, near Grand Central Terminal.
The multinational investment manager inked a seven-year deal for 12,303 square feet on the second floor at 340 Madison, between East 43rd and East 44th streets, according to the landlord. An RXR spokesperson declined to provide the asking rent for the space.
AXA plans to leave nearby 711 Third Avenue for its new digs early next year.
RXR was represented in-house by William Elder, Andrew Ackerman and Alexandra Budd. Matthew Astrachan and Dan Turkewitz of JLL (JLL) handled the deal for the tenant. A JLL spokesperson didn’t immediately return a request for comment.
“We’ve seen significant interest at 340 Madison as major firms choose to relocate to newly-renovated buildings with amenities and modern renovations near Grand Central,” said Elder.
AXA’s deal comes after PNC Bank renewed 65,000 square feet of offices and 5,300 square feet for a retail bank branch in the building last month, as Commercial Observer previously reported.
The 22-story property recently underwent a $40 million renovation that includes a new lobby, new elevators, a 10,000-square-foot amenity center, conference rooms and meditation areas.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
