350 Madison Ave.
NEW YORK CITY—AlphaSights has renewed its 46,142 square-foot lease and expanded it by 17,690 square feet for a total of 63,832 square feet at 350 Madison Ave. The London-based, global information company that connects its clients with experts, has been at the RFR Realty property for two years. Its new lease is for five years with asking rent of $78 per square foot.
AlphaSights is currently on the 12th, 14th and 15th floors of the office tower. It will take possession of the entire 16th floor in the first quarter of 2019.
Max Cartellieri and Andrew Heath, who first met at Stanford Business School, started the company in London in 2008. AlphaSights opened its second office in New York City, followed by offices in Hong Kong, Dubai, San Francisco, Seoul, Hamburg and Shanghai.
RFR's director of leasing AJ Camhi and VP of leasing Ryan Silverman along with JLL's Alexander Chudnoff, Mitchell Konsker, Daniel Turkewitz and Diana Biasotti negotiated the lease expansion for the property owner. Rob Lowe of Cushman & Wakefield represented AlphaSights.
In addition, Burford Capital LLC, signed a new 10-year, 19,516 square-foot lease in the building, with asking rent at $75 per square foot. The firm, which specializes in providing arbitration and litigation financing, is relocating from 292 Madison Ave. It will occupy the entire ninth floor. Burford was founded in 2009 and has over 80 employees in the US, Europe and Asia-Pacific. Its CEO Christopher Bogart formerly worked as Time Warner's EVP and general counsel.
For this lease, RFR and JLL handled all negotiations. Camhi and Silverman with Konsker and Biasotti represented building ownership, while Chudnoff and Turkewitz acted on behalf of the tenant, Burford.
“We continue to experience strong leasing momentum at 350 Madison Ave.,” said Camhi. “The new commitment by Burford and the expansion by AlphaSights are further testament to the quality of this asset that currently has only one available space.”
The entire 8,559 square-foot 21st floor which comes with a built-out and furnished terrace is the last space left. Asking rent is $85 per square foot.
Both World Economic Forum USA and JLT RE have leases each for 39,032 square feet in the building, with JLT spanning two floors. Other tenants include Bank Leumi USA and Certares Management.
Constructed in 1963, 350 Madison Ave. is a 25-story, 400,000 square-foot office skyscraper at the corner of 45th St., in the Midtown submarket, the Grand Central district. RFR recently completed a comprehensive renovation. MdeAS Architects redesigned the two-story, sky-lit lobby which showcases rotating artwork. Paintings by David Salle and prints by Andy Warhol are currently on display.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
