GTS Extends Lease at 545 Madison Avenue
By Leah Breakstone July 24, 2023 4:42 pm
reprints
Financial market maker GTS will keep its offices at 545 Madison Avenue.
The global trading firm signed a two-year lease extension for its 30,094-square-foot offices spread across four floors at the 17-story building, according to landlord Marx Realty.
Asking rent was $100 per square foot, Craig Deitelzweig, CEO and president of Marx Realty, wrote in an email to Commercial Observer. Marx Realty handled the deal in-house, and GTS had no brokers.
GTS has occupied 545 Madison on the corner of East 55th Street and Madison Avenue for roughly 10 years, Deitelzweig said, and was initially drawn to the building for its “prime Plaza District location.”
The building has undergone quite the facelift over the past few years. During the height of the pandemic, the building saw renovations to its lobby, including the addition of a uniformed doorman and a library, as well as small upgrades such as “refined mood music, soothing lighting, and a signature scent,” according to Marx.
In March 2023, Marx Realty unveiled the building’s 7,000-square-foot “Leonard Lounge,” named after the company’s late founder Leonard Marx, which features a cafe, a terrace, a ceiling-suspended fireplace and a spacious boardroom, according to the landlord.
GTS — which also has an office at 40 Wall Street — was “particularly impressed with the renovations to 545’s lobby and the addition of the luxurious Leonard Lounge” Deitelzweig wrote, explaining that the upgrades influenced GTS’s decision to extend its lease.
The building’s final upgrade, a two-story penthouse office, is currently underway and will be available in January 2024, the landlord said.
GTS did not immediately respond to a request for comment.
Leah Breakstone can be reached at lbreakstone@commercialobserver.com.
