RFR has signed an 18,038-square-foot, full-floor lease with NewEdge Wealth and an 8,019-square-foot, full-floor lease with Bank of Hope at 477 Madison Avenue, a 24-story boutique office tower in Midtown Manhattan.
NewEdge Wealth, a Stamford, Conn.-based private-equity backed wealth management firm, is part of NewEdge Capital Group, which provides technology-enabled solutions for financial advisors and includes $60 billion of client assets, 75,000-plus client accounts and over 175 office locations.
“The highest caliber tenants continue to seek high-end workplace experiences, and many are drawn to the elevated design sensibility and prime location at 477 Madison,” said AJ Camhi, RFR executive vice president and director of leasing. “The pre-built program we’ve created with Fogarty Finger hits all the right notes with curated finishes and a timeless modern aesthetic while the well-appointed amenity spaces provide opportunity to work outside the traditional office setting or wind down with colleagues. It’s really a perfect package of form and function.”
Headquartered in Los Angeles, Bank of Hope is an FDIC-insured, super-regional bank founded by Korean- American immigrants in the early 1980s. It currently has 46 branches in 12 states. This new office – its first New York City outpost — is meant to support the firm’s continued growth in New York and along the East Coast.
The NewEdge Wealth and Bank of Hope leases mark 80,009 square feet of recent activity at 477 Madison including an 18,412-square-foot lease with Treville Capital and a 14,838-square-foot deal with Fiera Capital earlier this year as well as a recent 20,702-square-foot renewal/expansion with law firm Rivkin Radler.
A CBRE team of Arkady Smolyansky and Alex D’Amario represented RFR in the transactions. NewEdge Wealth was represented by David Stockel and Taylor Walker of CBRE. Bank of Hope was represented by Alex D’Amario and Alessia Lawson of CBRE.
