Marx Realty announced that Niobrara Capital, a private equity firm focused on investing in technology and technology-enabled services businesses in the United States and Europe, has signed an 11,000-square-foot lease for the entire ninth floor at 545 Madison, also known as the Baccarat Building following Marx Realty’s first-of-its-kind office co-branding partnership with the renowned lifestyle house Baccarat.
“The continued leasing momentum at 545 Madison speaks to the power of pairing this exceptional Plaza District address with a truly differentiated hospitality-infused experience,” said Craig Deitelzweig, president and CEO of Marx Realty. “The building’s warm, club-like sensibility, refined design and unmistakable Baccarat touches continue to resonate with premier firms looking for a workplace that feels elevated, elegant and distinctive.”
A Newmark team led by CJ Heitner and John Cilmi represented Niobrara Capital in the transaction. Marx Realty was represented by Tara Stacom, Peter Trivelas, Harry Blair and Remy Leibersohn of Cushman & Wakefield. The asking rent for the ninth-floor space was $145 per square foot.
Drawing inspiration from the world’s finest hotels, 545 Madison welcomes tenants and guests with a uniformed doorman and a reimagined lobby and entryway featuring Baccarat chandeliers and the brand’s signature scent. The Baccarat experience continues on the eighth floor at the Leonard Lounge, where a well-appointed café and lounge space and a landscaped terrace are complemented by Baccarat fixtures, barware and accessories.
