Asset Manager Lucid Keeps Midtown Headquarters

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Asset manager Lucid Management and Capital Partners has inked a deal to keep its 3,900-square-foot headquarters at 295 Madison Avenue in Midtown, Commercial Observer has learned.

Lucid moved to a direct lease with landlord The Eretz Group for the entire 39th floor of the 47-story building, after subleasing the space last spring from software firm CloudSense, according to tenant broker Lee & Associates NYC. A spokesperson for Lee declined to disclose the terms of the deal.

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“[This building] proved to be the perfect location for Lucid Management — providing access to everything they might need and allowing ample square footage for continued growth of their $2.6 billion asset management business,” Lee’s Alan Friedman, who represented the tenant with Woody King, said in a statement. 

Other tenants in the 300,000-square-foot 295 Madison include IT service provider BCM One, environmental consulting company Environmental Resource Management and recruitment firm Daversa Partners

Eretz has owned the building near Grand Central Terminal since 2013, when it purchased the property from the Moinian Group and Westbrook Partners for $200 million, CO previously reported.

The landlord was represented in-house via Nicholas Mok. CloudSense, Lucid, Eretz and Mok officials did not immediately respond to requests for comment.

Celia Young can be reached at cyoung@commercialobserver.com.