Financial firm leases at 330 Madison

TRD New York /
Dec.December 27, 2011 01:14 PM

Clockwise from top left: Cassidy Turley New York Tri-State President Peter Hennessy, 330 Madison Avenue and Frank Doyle, vice chairman of Jones Lang LaSalle
Financial firm Guggenheim Partners has agreed to lease 186,000 square feet at 330 Madison Avenue for a rent in the $70s per square foot, the New York Observer reported. Guggenheim will move into the space when the lease for its approximately 140,000 square feet at 135 East 57th Street expires in 2013.

Vornado Realty Trust is the landlord at the 850,000-square-foot Madison Avenue tower, between 42nd and 43rd streets, and is spending more than $100 million to upgrade the building and secure a LEED Silver certification.

Initially founded in the early 20th century to manage the Guggenheim family’s wealth, Guggenheim Partners had been looking for a new space for months and was on the verge of signing at 1251 Sixth Avenue, near 50th Street, before French bank Natixis took back space that was expected to be vacant.

Cassidy Turley New York Tri-State President Peter Hennessy represented the tenant in the lease, while a Jones Lang LaSalle team led by Frank Doyle, a vice chairman, was marketing the space with an in-house Vornado team. [NYO]

Related Articles

Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

Donald Trump and the Trump Hotel in Washington D.C. (Credit: Getty Images)

Deadline is set for bids on Trump’s DC hotel

LCOR’s Anthony Tortora and the parking lot at 1517 Surf Avenue (Credit: Google Maps and LCOR)

California teachers get in on Coney Island’s redevelopment

JLL CEO Christian Ulbrich and 330 Madison Avenue (Credit: JLL and Steel Institute of New York)

JLL doubles office footprint at 330 Madison Avenue

Time Out Market at 916 West Fulton Market and Revival Food Hall at 125 S. Clark Street 

Does Chicago still have an appetite for food halls?

Clockwise from left: 1290 Sixth Avenue, 40 Wall Street, President Donald Trump, Trump National Doral in Miami and Trump International Hotel in Washington, DC (Credit: Getty Images, Vornado, Wikipedia)

Trump Org’s office holdings help offset hotel losses: analysis