RFR Realty Signs Two New Tenants at 285 Madison Ave.
Luxury Goods retailer FarFetch.com and financial firm LiquidX sign leases which together total more than 22,000 square feet at the Midtown East office tower.
NEW YORK CITY—RFR Realty signed a 10-year lease with the online luxury goods company Farfetch.com for 14,875 square-feet, a full tower floor at 285 Madison Ave. The building owner landlord also signed a lease with LiquidX, an electronic marketplace for trade finance assets for 7,813 square feet, occupying a partial tower floor.
The leases bring the building to 94% occupied. Two pre-builts, one 15,000 square-foot tower floor and one partial 13,000 square-foot floor, are the only remaining available office spaces. Although the lease amounts were not disclosed, asking rents for the two pre-built spaces range from $77 to $82 per square foot.
Farfetch raised $855 million in an IPO this past September, where shares increased 53% in value in its first day of trading, resulting in a company valuation of approximately $8 billion. RFR’s other new tenant, trading platform LiquidX, has executed over $21.3 billion of trade volume and processed over $50 billion in post trade settlement to date.
RFR has recently completed a $65 million repositioning of 285 Madison Ave. The building now offers a rooftop terrace, outdoor lounge, indoor amenity space and a fitness center. The lobby features rotating contemporary art. Currently, works by Peter Dayton, Enoc Perez and Mike Bidlo are on display.
In the recent transactions, the building ownership was represented by RFR’s AJ Camhi and Ryan Silverman, along with the JLL team of Alexander Chudnoff, Mitchell Konsker, Dan Turkewitz and Diana Biasotti.
JLL’s Bill Peters, Josh Stuart and Christian Allen represented FarFetch.com. Matthew McBride of CBRE represented LiquidX.
Other office tenants include Tommy Hilfiger, Brighthouse Financial, Bessemer Venture Partners, StriVectin Operating Company, General Electric Company and Misys International Banking Systems. The retail component at 285 Madison is 100% occupied. Retailers include Benjamin Group; Popular Community Bank, part of the international financial services group Banco Popular; Taylor Street Baristas; Dos Toros Taqueria; minigrow; and a Dr. Smood eatery.