The Real Deal New York

Broadway Partners fills up 340 Mad. Ave.

May 22, 2008 02:03PM
By Adam Pincus

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Broadway Partners’ office building at 340 Madison Avenue in Midtown is nearly fully leased 18 months after the firm purchased the half-empty tower.

The Manhattan-based real estate investment and management company bought the 750,000-square-foot building in 2006 from Harry Macklowe for $550 million.

The 22-story Class A building was 43 percent leased in 2006 and is now 92 percent occupied.

The latest leases, totaling 119,485 square feet, were signed with the U.S. Office of the Comptroller of the Currency, PNC Financial Services Group, Banco Espirito Santo Investments, Unison Site Management and Zenkyoren Asset Management of America. The Comptroller of the Currency’s office, which regulates national banks, took the largest lease at 50,519 square feet.

The building, which was opened in 1928 and rehabilitated in 2006, is located a block from Grand Central Station, between 43rd and 44th streets. 

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