Audiovisual Designer Sees and Hears No Reason to Leave 171 Madison Avenue
By Abigail Nehring June 18, 2024 3:50 pm
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Sound system designer Presentation Products will keep the jam session going at 171 Madison Avenue.
Presentation Products inked a seven-year lease renewal for its 6,196-square-foot office on the 12th floor of the 16-story building, where it’s been since 2017, landlord GFP Real Estate announced.
Asking rents at the building between East 33rd and East 34th streets range from $50 to $55 per square foot, according to a spokesperson for GFP.
The audiovisual company was founded in 1985. Clients include the Cartier Mansion, which was renovated in 2020, Teacher’s College at Columbia University, and Peloton’s headquarters at 441 Ninth Avenue, according to its website and LinkedIn page.
Newmark (NMRK)’s Jordan Gosin and Michael Horn arranged the deal for Presentation Products and did not respond to requests for comment.
Jeffrey Gural’s GFP was represented in-house by Allen Gurevich, who said the neighborhood has been evolving recently, and that’s drawing new tenants to the property.
“The area has become a hub for furniture, design and home fashion companies,” Gurevich said in a statement. “We’ve seen a lot of interest from these firms over the past several months.”
Gurevich also handled two other deals at the 113,182-square-foot Madison Avenue office building.
The first was a five-year renewal and expansion for Blue Card, a nonprofit social service provider for Holocaust survivors and their families. Blue Card will expand its footprint from 2,487 square feet to 3,287 square feet in the building.
Blue Card has been on the 14th floor of the building since 2003 and will now take over the suite next door to its current office, gaining an additional 800 square feet.
Gurevich handled both sides of the deal, according to GFP.
In the last deal, U.K.-based design agency JDO Global signed a four-year lease to relocate from 636 Broadway to 2,100 square feet on the 14th floor of 171 Madison.
The agency will double its footprint with the move, according to Velocity Real Estate’s Jake Cunningham, who brokered the deal for the tenant.
“JDO is based in the U.K. but expanding in the United States,” Cunningham said. “They’re adding to their headcount and adding more clients.”
Other tenants on the roster at 171 Madison include telecommunications company Nokia, business consulting firm Redstone Strategy Group and communications technology provider Amcom Software, as Commercial Observer previously reported.
Abigail Nehring can be reached at anehring@commercialobserver.com.
