Medallion Financial Relocates to 9K SF at Hartz Group’s 667 Madison Avenue
By Emily Davis June 22, 2026 12:01 pm
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Commercial finance company Medallion Financial has leased roughly 9,000 square feet at Hartz Group’s 667 Madison Avenue.
The lender, known for funding New York City’s yellow taxi cab fleet, signed an 11-year lease at the office building, located on the northeast corner of East 61st Street, Medallion confirmed. Asking rent in the 25-story tower runs from $120 to $190 per square foot, per the New York Post, which first reported on the transaction.
Medallion Financial was represented in the negotiations by brokers at Hanley Advisors and Sage Realty, as well as broker Alan Grossman. It is unclear whether Hertz Group worked with any outside brokerages. The landlord did not respond to a request for comment.
The new lease keeps Medallion Financial close to home, having relocated a dozen blocks north from Sage’s 437 Madison Avenue on East 49th Street. Andrew Murstein, Medallion Financial’s president and CEO, told Commercial Observer in an email that his company is “proud to be planting our flag in the heart of Manhattan.”
The company is actively growing its loan portfolio as well as expanding into new areas of specialty financing, according to Murstein. Its Medallion Bank remains based in Salt Lake City, Utah. It recently launched a campaign, Project Boomerang, to attract businesses back from competing metros in Florida and Texas with the help of TV ads and shipments of Katz’s Deli pastrami.
“Even though we have successfully pivoted away from the taxi medallion industry, as it is now less than 1 percent of our $3 billion portfolio, we felt it was important to have our U.S. headquarters in New York,” Murstein said in a statement. “This new office reflects that momentum — and our confidence in New York’s future.”
The 267,000-square-foot property at 667 Madison Avenue also hosts a two-story coworking space by office provider Servecorp. Other tenants include investment firms RedBird Capital Partners and Sciens Capital Management, as well as the Tisch family office and its conglomerate Loews Corporation.
Spokespeople for Hanley Advisors and Sage Realty did not respond to requests for comment. Alan Grossman could not immediately be reached.
Emily Davis can be reached at edavis@commercialobserver.com.
