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SL Green Inks Two Madison Avenue Deals

NEW YORK CITY-The office REIT signs Ambassador Construction to a 13,784-square-foot renewal at its 317 Madison Ave. and arranges a 40,759-square-foot sublease at Vornado's 330 Madison.

By Paul Bubny | Updated on April 08, 2009

NEW YORK CITY-Longtime tenant Ambassador Construction Co. has renewed its 13,784-square-foot lease on the 12th floor of SL Green Realty Corp.’s 317 Madison Ave., and Horizon Media has subleased 40,759 square feet at Vornado Realty Trust’s 330 Madison Ave. in a deal arranged by SL Green Leasing.

In a release, Steve Durels, EVP and director of leasing and real property at the office REIT, says “Ambassador has been a long-term building tenant and we’re delighted that they have chosen to extend that relationship.” The renewal by Ambassador, an interior construction company, increases the occupancy at the 485,641-square-foot 317 Madison to 98%.

James E. Frederick of Colliers ABR represented Ambassador in the 317 Madison transaction, while SL Green’s Elaine Anazagasty acted in-house on behalf of the landlord. Other tenants at 317 Madison, which SL Green bought from Richfield Investment Trust for $105.6 million in 2001, include TD Bank, Entertainment Software Board, Headway Corporate Resources and New York Focus.

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