"We remodeled 545 Madison with tenants like CS Tang in mind," says LCOR SVP David Sigman in a release. "They appreciated that we catered to their specific operational needs."
He says other financial services firms have submitted proposals to lease space at 545 Madison, and that he is increasingly receiving full-floor requests from tenants who either require the space or anticipate growth. Asking rents at the property average in the mid-$70s per square foot.
LCOR gut-rehabbed the 54-year-old, 17-story property under the guidelines of the LED Core & Shell program. It includes a fully pre-built floor of 8,800 square feet built to LEED Commercial Interior specifications.
The release states that 545 Madison uses low-emitting building materials, extensive recycled content and renewable power sources. Individual offices have their own thermal controls. The structure features water-conserving bathrooms and a minimum of 93% sunlight/daylight illumination. Building materials include wood certified by the Forest Stewardship Council, along with post-industrial and post-consumer recycled steel, metal, carpeting, aluminum, gypsum board and insulation.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
