President, New York Tri-State Region David Falk and Executive Managing Director Jason Greenstein represented Havas Health in the transaction.
George Comfort & Sons President and Chief Executive Officer Peter S. Duncan and Head of NYC Leasing Alexander Bermingham represented ownership, a partnership of George Comfort & Sons, Loeb Partners Realty and Jamestown.
Founded in 1835, Havas Health is one of the world’s largest global communications groups, operating across more than 100 markets. It has maintained its headquarters at 200 Madison Avenue for nearly three decades.
“Havas Health’s decision to expand and extend its commitment at 200 Madison Avenue reflects the enduring appeal of well-located, high-quality workplace environments for leading global companies,” said Falk. “We were proud to advise Havas on a transaction that accommodates its continued growth while providing the scale, flexibility and workplace environment to support the business for years to come.”
Located in Manhattan’s Grand Central district, 200 Madison Avenue is a 26-story, 750,000-square-foot office tower. The owners recently completed a renovation of the property’s Madison Avenue entrance and lobby and is developing an 11,000-square-foot indoor-outdoor amenity center featuring executive conference rooms, collaborative and event spaces, a lounge and outdoor sky garden. Built in 1926, the property offers flexible floorplates and convenient access to Grand Central Terminal, Herald Square and Penn Station, as well as multiple subway and bus lines.
The transaction comes amid sustained leasing momentum across Manhattan, where year-to-date leasing reached 32.0 million square feet through August, following nine consecutive months of activity above 3.0 million square feet. Midtown continues to capture the majority of active tenant demand, accounting for 58.5% of requirements by square footage.
