The Real Deal New York

RFR signs first new tenant at 285 Madison after $65M upgrade

Greylock Capital Management takes 11,400 square feet

May 20, 2014 11:00AM

From left: Aby Rosen, 285 Madison Avenue (credit; PropertyShark) and Mary Ann Tighe

From left: Aby Rosen, 285 Madison Avenue (credit; PropertyShark) and Mary Ann Tighe

Midtown East-based investment management firm Greylock Capital Management has signed a lease for 11,400 square feet at RFR Holding’s 285 Madison Avenue office building.

Greylock is the first company to join the former Young & Rubicam tower after a $65 million renovation at the 535,000-square-foot site. Asking rent for the space was roughly $87 per square foot, the New York Post reported. CBRE’s Mary Ann Tighe and her team represented Aby Rosen, who co-founded RFR.

In 2012, RFR and Green Oak Real Estate paid $190 million for the building, located between East 40th and East 41st streets, as previously reported.

“It’s exciting to see the market begin to embrace the amazing modern work environment we have created within this historic shell,” Rosen told the New York Post. [NYP, 2nd]Mark Maurer

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