Newmark’s new pre-built program at 600 Madison Avenue is paying off, with three new leases completed despite the COVID-19 pandemic. These recent transactions for 600 Madison include leases with major financial institutions, Giverny Capital and Planet Home Lending and Reza, a proprietor of rare gems and jewelry. Newmark’s President of the New York Tri-State Region, David Falk and Director Jonathan Franzel represented the owner and landlord, Ruben Companies. The Newmark team collaborated closely with CBRE’s Michael Remer and JLL’s Jason Roberts and Charles Gerace.
“The pandemic has certainly put some challenges on leasing space in NYC. However, we were able to achieve these three new office transactions for 600 Madison due to a flight to quality on behalf of tenants,” Falk said. “We are confident that the high level of workmanship and design put into the new prebuilt space will make it much more appealing to firms looking to move in quickly to an upgraded and modern environment.”
The new prebuilt spaces feature a modern aesthetic, first-class design and finishes and striking views in an exclusive owner-occupied building that features a newly renovated lobby and elevators and a tenant roster comprised of major financial firms, law firms and investment funds. The ground-floor retail spaces include world-class retailers such as Bang & Olufsen, Montblanc and Starbucks. The property was developed by Ruben Companies in the 1960s and serves as its headquarters today.
