Built in 1932, the Midtown building underwent a complete redevelopment ten years ago, including complete retrofit of all base building systems. That effort included upgrading elevators, HVAC system, electrical service and windows.
Current tenants in the 100% leased site include Credit Suisse First Boston, which occupies the bulk of the building, IBM and Omnicom-OMB. There is also a retail component and the restaurant, 11 Madison Park.
"11 Madison is a major property," says Jon Caplan, executive director at Cushman & Wakefield, which is the managing agent at the property. "It's another example of the confidence in the New York market and the strength of investments."
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