Midtown Orthopedics Renews 15K-SF Lease at 485 Madison
By Mark Hallum August 6, 2024 2:37 pm
reprints
Midtown Orthopedics isn’t walking away from its offices at 485 Madison Avenue anytime soon, Commercial Observer has learned.
The surgeon care office that specializes in joints signed a seven-year renewal on its 15,000-square-foot space on the seventh floor of the Jack Resnick & Sons-owned building, according to a source with knowledge of the deal. Asking rent was $69 per square foot.
Adam Rappaport of Resnick represented the landlord, which acquired the building in 1976, in-house while James Wenk, Alex Redlus and Kirill Azovtsev of Savills handled negotiations for the tenant.
Rappaport and Savills did not immediately respond to requests for comment.
The 25-story building was designed by architect James Edwin Ruth Carpenter and has 305,675 square feet. Other tenants include the New York City offices of Washington, D.C.-based law firm Zuckerman Spaeder, which signed a lease for 14,101 square feet in April 2022, and commercial real estate investment manager Pembrook Capital Management, which occupies 8,179 square feet.
Mark Hallum can be reached at mhallum@commercialobserver.com.
