NewEdge Wealth Inks 18K-SF Lease at RFR’s 477 Madison Avenue

NewEdge Wealth, a Connecticut-based wealth management firm, has signed an 18,038-square-foot lease at RFR’s 477 Madison Avenue in Midtown Manhattan, the building owner announced. 

The firm, which is part of NewEdge Capital Group, has taken an entire floor of the 24-story office tower. Asking rent in the building ranges between $88 and $115 per square foot. 

David Stockel and Taylor Walker of CBRE represented NewEdge Wealth in the deal. 

In a separate deal, Bank of Hope also took space at 477 Madison Avenue, having signed an 8,019-square-foot full-floor deal in the building. 

The length of each lease was not disclosed, although a source close to the deals said they are both “long-term” leases. 

Alex D’Amario and Alessia Lawson of CBRE represented Bank of Hope. CBRE’s D’mario and Arkady Smolyansky represented RFR in both deals. CBRE did not immediately respond to a request for comment. 

“The highest-caliber tenants continue to seek high-end workplace experiences, and many are drawn to the elevated design sensibility and prime location at 477 Madison,” AJ Camhi, executive vice president and director of leasing for RFR, said in a statement. “The prebuilt program we’ve created with Fogarty Finger hits all the right notes with curated finishes and a timeless modern aesthetic, while the well-appointed amenity spaces provide opportunity to work outside the traditional office setting or wind down with colleagues.”

Situated across from St. Patrick’s Cathedral, 477 Madison Avenue was built in 1953, and underwent a renovation in 2016. Other tenants at 477 Madison include financial services firm Treville Capital Group, British menswear brand Charles Tyrwhitt, and asset manager Ariel Alternatives.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.