Accounting Firm Armanino Takes 19K SF at 437 Madison
By Nicholas Rizzi September 12, 2024 5:40 pm
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Accounting firm Armanino signed on for new Madison Avenue digs.
Armanino signed a 10-year lease for 19,135 square feet on the entire 37th floor of 437 Madison Avenue, according to Sage, which co-owns the building with the Travelers Companies. Asking rent was $105 per square foot.
The accounting firm is headquartered in San Ramon, Calif., and entered the New York market in 2021 when it opened a nearly 30-person office at 14 Penn Plaza, according to an announcement from the company at the time.
Armanino boosted its presence in the Big Apple in 2023 when it acquired accounting and advisory firm Janover for an undisclosed amount, bringing on board Janover’s 190 employees spread out at 485 Madison Avenue and 100 Quentin Roosevelt Boulevard in Garden City, N.Y., the New York Business Journal reported.
Sage said its new lease represents a relocation for Armanino, but did not clarify which office would be moving to 437 Madison, a massive office building that fronts the full block between East 49th and 50th streets. The company plans to move into its new digs in the first quarter of 2025.
Colliers (CIGI)’ Michael Cohen and Maria Valanzano represented Armanino in the deal. Sage handled it in-house via Michael Lenchner and Jack Brennan, along with JLL (JLL)’s Frank Doyle and Michael Pallas.
A spokesperson for JLL declined to comment and a spokesperson for Colliers did not immediately respond to a request for comment.
“[Armanino’s] decision to expand their presence here is a testament to the quality and appeal of the property,” Lenchner said in a statement. “We are committed to providing a modern and dynamic space that supports Armanino’s growth and continued success, and we look forward to a strong and lasting partnership.”
Other tenants in the 362,000-square-foot 437 Madison include Santander Bank, asset manager Sycamore Tree Capital Partners and commodities trader ACT Commodities.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
