Investment firm signs 10-year lease at 510 Madison

Investment firm LH Financial inked a 6,553-square-foot, 10-year lease at the Boston Properties-owned office building at 510 Madison Avenue, the New York Observer reported.

The company is leaving a commercial co-op at 150 Central Park South for the building, developed by Harry Macklowe, with asking rents that start at $100 per square foot. The plan is to move to the 14th floor space by the summer, the newspaper said.

The 355,598-square-foot Class A Building On Madison Avenue was chosen for its “boutique floorplates, high-end finishes and tenant amenities,” said Lance Leighton of Studley, who represented the tenant. It also boasts a 6,500-square-foot garden terrace, executive fitness center and lap pool, the report said.

In 2011, real estate investment trust Boston Properties, a publicly-traded real estate investment fund, bought 510 Madison from Macklowe for more than $280 million. [NYO] – Mark Maurer