CancerCare, Fashion Retailer Massimo Bonini Ink Deals at 485 Madison Avenue
By Isabelle Durso October 23, 2024 12:16 pm
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Nonprofit CancerCare and Italian fashion wholesaler Massimo Bonini are moving to Jack Resnick & Sons’ office tower at 485 Madison Avenue.
In the largest deal, CancerCare, which provides emotional and practical support for people with cancer, signed a 16-year lease for 14,101 square feet on the entire 10th floor of the 25-story building, according to the landlord.
Meanwhile, Massimo Bonini, which sells footwear, handbags and accessories, is taking 9,128 square feet on the 24th floor and penthouse for 10 years, the landlord said. The asking rent for both leases was $65 per square foot.
“We are thrilled to welcome CancerCare and Massimo Bonini to 485 Madison Avenue, which remains a top draw for innovative organizations seeking the highest quality work environments and customer service in the Plaza District,” Jack Resnick & Sons President Jonathan Resnick said in a statement.
A spokesperson for CancerCare did not immediately respond to a request for comment.
Newmark (NMRK)’s David Berke and Brian Waterman brokered the deal for CancerCare, while Esther Zar handled it for Massimo Bonini. Jack Resnick & Sons was represented in-house in both deals by Brett Greenberg and Adam Rappaport. The Newmark brokers and Zar did not immediately respond to requests for comment.
The leases represent relocations for both tenants, which are set to move into their new spots during the first half of 2025, according to the landlord. CancerCare will be leaving its current office at 275 Seventh Avenue, while Massimo Bonini will vacate its current space at 720 Fifth Avenue, just five blocks north of its new home.
“We are thrilled to be moving to 485 Madison Avenue early next year,” a spokesperson for Massimo Bonini said in a statement to Commercial Observer. “This an exciting new chapter as we continue to grow our company in the U.S. The nature of the space, with its prestigious address, the breathtaking views and the light-filled interiors, is the ideal place for us to bring new energy to our operations and give the best platform to our brand partners.”
A spokesperson for CancerCare also told CO the company is “excited” to move into its new building as it remains “deeply committed to keeping our roots in Manhattan and the communities we serve.”
And the deals come after law firm Zuckerman Spaeder extended its lease at 485 Madison Avenue and downsized to a 10,320-square-foot office on the entire 19th floor of the building, as CO previously reported. CancerCare took over the firm’s previous space on the 10th floor.
Ground-level retailers at the 305,675-square-foot building at the corner of Madison Avenue and East 52nd Street near Rockefeller Center include menswear brand Hive & Colony, Swiss shoemaker Le Majordome and Italian restaurant Fresco by Scotto.
Isabelle Durso can be reached at idurso@commercialobserver.com.
