Leases  ·  Office

Investment Advisers Helix Partners Moving to 545 Madison

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Investment adviser Helix Partners Management has tied the knot on its new offices at 545 Madison Avenue.

Helix signed a five-year lease for 7,000 square feet across the eighth floor of the building between East 54th and East 55th streets, according to landlord Marx Realty. Asking rent was $98 per square foot.

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The firm plans to relocate from its offices within backer Millennium Management’s space at 399 Park Avenue to its own spot in June, Marx Realty CEO Craig Deitelzweig said. 

Helix approached Marx in January looking for space in the building, and it was the property’s 7,000-square-foot lounge and cafè, dubbed the Leonard Lounge, that sealed the deal, Deitelzweig said.

“They loved the aesthetic of the space,” Deitelzweig said. “They’re adjacent to the Leonard Lounge and I think they really liked the appearance of the lounge, and it solidified how special the building is.”

Plus, it didn’t hurt that Marx is launching another swanky amenity at the building with Marx dropping $100,000 on an electric Rivian SUV to ferry tenants of 545 Madison Avenue around Midtown starting next year, Deitelzweig said.

Other tenants at the 17-story property include private equity firm Snow Phipps Group, real estate company Ogden CAP Properties and consultants Vialto Partners.

CBRE’s Greg Maurer-Hollaender, Ryan Alexander and Jared Isaacson represented the tenant in the deal. Cushman & Wakefield’s Tara Stacom, Harry Blair, Peter Trivelas, Connor Daugstrup, Remy Liebersohn and Bianca Di Mauro handled it for the landlord. 

Spokespeople for Millennium, CBRE and C&W declined to comment.

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