The Real Deal New York

Bank Leumi takes space at RFR’s 350 Madison

Aby Rosen recently upgraded the prewar tower
February 24, 2015 11:30AM

Bank Leumi USA is consolidating its operations from several locations into Aby Rosen’s 350 Madison Avenue, where it has signed on to lease 59,000 square feet.

Rosen’s RFR Realty recently upgraded the 400,000-square-foot prewar tower with new tenant amenities, a new lobby, art installations, and new storefronts. The firm purchased the building in 2013 for $260 million. It is 25 stories and sits between East 44th and East 45th streets.

The Israeli bank will occupy the entire third, fourth, and sixth floors. Rents were not disclosed, but JLL’s Mitchell Konsker, who was one of the brokers to represent RFR, said that asking rents for the remaining 148,000 square feet of space available in the building range from $65 per square foot to $85 for the two top floors, which include terraces.

Also representing RFR were JLL’s Alexander Chudnoff, Dan Terkowitz, Diana Biasotti and Matt Polhemus, with RFR’s Oliver Katcher in-house. Bank Leumi was represented by CBRE’s Brian Gell, Joan Meixner and Brett Shannon.

RFR Realty recently launched a retail division headed by Jordan Claffey. [NYP] — Tess Hofmann