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William Kaufman Pulls in Midtown Renewal

NEW YORK CITY—The long-time tenant occupies a full-floor in the East 50s, spotlighting this wrap-up of recent deals.

By Rayna Katz | Updated on January 21, 2016

NEW YORK CITY—Medallion Financial Corp. has extended its 18,650 square-foot lease at 437 Madison Ave. The specialty finance company servicing the taxicab, recreational vehicle and home improvement has signed a 10-year lease renewal for the entire 38th floor at the 40-story, 850,000-square-foot office building owned by the William Kaufman Organization. The company has been a tenant at the building since 1997. Michael Lenchner, VP and director of leasing at Sage Realty Corp., the leasing and management division of WKO, represented the building’s ownership in-house in the long-term transaction, while Paul Davidson and William Mendelson of Newmark Grubb Knight Frank represented the tenant. Asking rents in the building are from $80 to $110 per rentable square foot.

Expedia has leased more than 9,000 square feet on the 72nd floor of the Empire State Building. Brian Hay, Tim Hay, Sacha Zarba and Robert Hill of CBRE represented the tenant in the lease negotiations. Empire State Realty Trust, the landlord of the iconic Midtown building, was represented by Fred Posniak and Shanae Ursini of ESRT, along with Paul Glickman, Jonathan Fanuzzi, Kip Orban and Harley Dalton of JLL. 

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