ADI Capital take 3,800 sf at Eretz’s 295 Madison Avenue

Asking rent for the space was $75 per square foot

New York /
Oct.October 21, 2015 09:13 AM

ADI Capital is tripling the size of its offices, signing a five year lease for the entire 36th floor of 295 Madison Avenue in Midtown.

The hedge fund, led by Paritosh Gupta, will take 3,800 square feet at the building, owned by Abraham Talassazan’s Eretz Group. The space had an asking rent of $75 dollars per square foot.

Keith Caggiano, Roshan Shah and Arkady Smolyansky of CBRE represented ADI in the deal, while Eretz’s Nick Mok represented the owner.

Eretz bought the 300,000-square-foot building, at 41st Street, from Westbrook Partners in 2013, paying $213 million. The sale was part of a portfolio of six residential and commercial properties Westbrook put on the market that April.

Environmental Resource Management, a consultancy, occupies 5,000 square feet at the building. The headhunting firm Society Staffing is also based at the building.

Talassazan’s company purchased the Argonaut Building at 224 West 57th Street from M1 Real Estate for $213 million in May. [NYP]Ariel Stulberg


Related Articles

arrow_forward_ios
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
Manhattan sublease surge shows signs of slowing
Manhattan sublease scourge finally abates
Manhattan sublease scourge finally abates
Smaller retailers are snapping up Manhattan’s empty storefronts for shorter, cheaper leases (iStock)
Small retailers slip into city’s empty storefronts on the cheap
Small retailers slip into city’s empty storefronts on the cheap
Newmark CEO Barry Gosin and CBRE CEO Robert Sulentic with (from top) Chris Cowan, Shane Ozment and Terrance Hunt (Getty)
Newmark sues brokers who jumped to CBRE for violating non-compete
Newmark sues brokers who jumped to CBRE for violating non-compete
Paramount CEO Albert Behler and 60 Wall Street (Getty, Paramount Group)
Paramount Group plans $250M facelift for 60 Wall
Paramount Group plans $250M facelift for 60 Wall
Commercial real estate investment was harder-hit in the New York metro and Bay Area than in Greater Los Angeles. (iStock)
LA was top spot for commercial property investment in Covid-ravaged year
LA was top spot for commercial property investment in Covid-ravaged year
WATCH: How climate change puts real estate at risk
WATCH: How climate change puts real estate at risk
WATCH: How climate change puts real estate at risk
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
arrow_forward_ios

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

Loading...