Boston signs first tenant at 510 Madison

TRD New York /
Nov.November 16, 2010 09:26 AM
Boston Properties’ Mortimer Zuckerman (top), Harry Macklowe and 510 Madison

Boston Properties has scored its first office tenant at 510 Madison Avenue, the new, vacant building on the corner of East 53rd Street that the company purchased from Harry Macklowe for $275 million earlier this year, Crain’s reported. The lease, for the entire 28th floor, was signed by Senator Investment Group at more than $100 per square foot, sources said. While Senator may turn out to be the first firm to relocate to the 30-story tower, it isn’t the first to agree to take space there. Before Macklowe ran into financial trouble at the 350,000-square-foot property — before selling off the building in September, he’d been locked in a battle with SL Green Realty, which had purchased some of the debt and was trying to seize control — he had secured one lease from Jay Goldman & Co. But that firm was also caught up in litigation with Macklowe in an attempt to get out of the lease, and the current status of that dispute is unclear. [Crain’s]


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