The Real Deal New York

GE Capital takes space at RFR’s 285 Madison

Recently-repositioned prewar property now 45% leased
May 17, 2016 08:00AM

Aby Rosen 285 Madison

From left: Aby Rosen and 285 Madison Avenue in Midtown

Financial services giant GE Capital is set to take up residence on the 15th and 16th floors of Aby Rosen’s 285 Madison Avenue.

The company signed a 16-year lease for 43,000 square feet at the recently-renovated, 26-story Midtown office building.

Asking rent for the space was in the low $70s.

Alexander Chudnoff, Mitchell Konsker and Dan Turkewitz of JLL represented Rosen’s RFR Realty in the deal, along with in-house broker AJ Camhi. 

GE Capital was repped by CBRE’s Sinclair Li, Sacha Zarba, Frederick Fackelmayer and Ryan Alexander, the New York Post reported

RFR bought the 530,000-square-foot 285 Madison Avenue for $190 million back in 2012. The developer then spent millions repositioning the building, adding amenities such as a roof deck and a fitness center.

The developer sold the Soho Hotel at 11 Howard Street last month to German asset manager Commerz Real for $170 million. [NYP]Ariel Stulberg