Health Care Service Thirty Madison Signs 15K-SF Lease at 183 Madison Avenue
By Mark Hallum March 4, 2024 3:55 pm
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This online health care provider isn’t losing its hair over whether or not it gets a long-term lease.
Thirty Madison, which has hair-loss treatment brands like Keeps in its portfolio, has signed a two-year, 15,440-square-foot office lease at APF Properties’ 183 Madison Avenue, according to tenant brokers Savills/" title="Savills" class="company-link">Savills.
The brokers did not immediately disclose the asking rent in the deal, but average asking rent in the fourth quarter of 2023 was $82.89 per square foot, according to CBRE. Crain’s New York Business first reported the deal.
It’s not clear where Thirty Madison will relocate from. Other online treatment services in Thirty Madison’s portfolio include Cove for migraines, Nurx for sexual and reproductive health, and Facet for eczema and psoriasis.
Savills’ Gabe Marans negotiated on behalf of the tenant while CBRE (CBRE)‘s Sean Kearns represented the landlord in the transaction. A spokesperson for CBRE did not immediately respond to a request for comment.
Other tenants in the Midtown office building at the corner of Madison Avenue and East 34th Street include Alumni Ventures Group, which signed a 10-year lease for 11,006 square feet in February 2020.
The landlord also had exposure to WeWork’s bankruptcy as the coworking firm occupied about 30,850 square feet on the fifth and sixth floors in May 2019 before its financial calamity began in earnest.
It later became one of the many leases WeWork planned to end as part of its repositioning effort, which involved filing for Chapter 11 bankruptcy protection in November 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
