RFR Realty Leases 83,348 SF at 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.