Alternative investment platform 777 Partners has signed a 15-year lease for an 18,476-square-foot penthouse at the One Madison Avenue office tower being developed by SL Green Realty Corp. The Miami-based company leased the full 27th floor penthouse space, joining other offices in Newport Beach, California, and London.
“One Madison Avenue is already considered a world-class paradigm for repurposing time-honored properties with 21st century design and the highest level of sustainable elements,” said Peter Sabesan, managing principal of Cresa Global Inc., who with principal Gregg Cohen arranged the lease. “Our client was immediately attracted to its many benefits and, as the first tenant, the opportunity to take charge of its own workspace design.”
Cresa’s Managing Principal/Project Management James A. Pirot and Senior Vice President/Project Management Ronald Zeccardi will oversee the construction and development of the 777 Partners interior workspace.
When completed in late 2024, One Madison Avenue be a 500,000-square-foot all-glass tower designed by Kohn Pedersen Fox, developed atop a mid-century limestone base.
The in-house team representing the landlord, SL Green, included Steven Durels, senior vice president, and David Kaufman, senior vice president. Asking rent for the space was $200 per square foot. 777 Partners will be relocating from 114 West 47th St. in late 2024.
