Hedge fund nearing big lease at 510 Madison

TRD New York /
Apr.April 01, 2011 10:00 AM

Boston Properties is nearing a deal to lease 66,000 square feet in its upcoming, and still mostly unclaimed, 510 Madison Avenue office tower to SAC Capital, the hedge fund owned by billionaire Steven Cohen, according to the Observer. Rumors of the negotiations surfaced months ago, but a lawsuit in which Cohen’s ex-wife accused him of insider trading had apparently put the talks on hold. A judge dismissed the case earlier this week, though, and sources said that clears the way for the lease signing to take place within days. SAC, which may get naming rights as part of the deal, is currently located at 540 Madison Avenue. The 350,000-square-foot building, which Boston Properties took over from Harry Macklowe for $275 million in September 2010, has only a few a few official tenants thus far, including Senator Investment Group, which inked a deal for the 28th floor in November for over $100 per square foot. [NYO]


Related Articles

arrow_forward_ios
From left: G.H. Palmer's Geoffrey Palme, RFR Holdings' Aby Rosen, Macklowe Properties' Harry Macklowe, Thor Equities' Joseph Sitt and Ellicott Development's Carl Paladino (Getty, iStock)

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks
The Moinian Group's Joseph Moinian, 3 Hudson Boulevard and Boston Properties' Owen Thomas (Credit: The Moinian Group, FX Collaboratiive and Boston Properties)

Hudson Yards district’s newest office tower to cost $2.6B

Hudson Yards district’s newest office tower to cost $2.6B
John Tashjian (center) with Harry Macklowe and 200 East 59th Street (Credit: Emily Assiran Photography)

Life after Macklowe: New sponsor cuts prices at condo tower

Life after Macklowe: New sponsor cuts prices at condo tower
Owen Thomas (Photo by Axel Dupeux)

The Closing: Owen Thomas

The Closing: Owen Thomas
Harry and Linda Macklowe (Credit: Getty Images, iStock)

The Macklowes’ massive art collection nears auction

The Macklowes’ massive art collection nears auction
Harry Macklowe (Credit: Getty Images)

Macklowe’s brazen Hamptons act recalls Times Square scandal

Macklowe’s brazen Hamptons act recalls Times Square scandal
WeWork's co-CEO Sebastian Gunningham speaks at the launch of Dock 72

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project
Harry Macklowe, Linda Macklowe and 432 Park Avenue (Credit: Getty Images)

The latest in Harry Macklowe’s divorce: Linda’s appeal killed in court

The latest in Harry Macklowe’s divorce: Linda’s appeal killed in court
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...