Tom Barrack’s Colony NorthStar moves next to Trump Tower

Investment firm inked 40K sf lease at 590 Madison

TRD New York /
May.May 03, 2017 09:10 AM

590 Madison and Tom Barrack (Credit: Getty Images)

Trump buddy Tom Barrack is moving his company office to the building next to the president’s New York home.

Barack’s real estate investment firm Colony NorthStar signed a 40,000-square-foot lease at 590 Madison Avenue, which is connected to Trump Tower through an atrium, the New York Post reported.

The company emerged from a merger between Colony Capital and NorthStar Realty Finance last year, and both parts currently have separate offices at 712 Fifth Avenue and 399 Park Avenue. The firms will move to Madison Avenue at the end of the year and will occupy all of the 34th and part of the 33rd floor of the building, which is owned by the State Teachers Retirement System of Ohio.

According to the Post, the lease is the first Plaza District deal since 2014 that crosses the 25,000-square-foot and $100-per-square-foot thresholds. JLL represented Colony, while CBRE represented the landlord.

Barrack helped form a super PAC that raised millions for the candidate Trump and later chaired his inauguration committee.  [NYP]Konrad Putzier


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory

Make Greenland Great Again? Trump wants to buy Arctic territory

Hamptons’ priciest summer rental to host MAGA extravaganza next month

Hamptons’ priciest summer rental to host MAGA extravaganza next month

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires at least 10% of staff

Trump Tower at 725 5th Avenue and Donald Trump (Credit: Getty Images)

Trump Tower occupancy rates depended on who asked

Donald Trump and Michael Bloomberg (Credit: Getty Images)

Bloomberg v. Trump: Real estate edition

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

The Thurgood Marshall Courthouse in Lower Manhattan (Credit: iStock)

Housing court could get a lot more political under reform plan

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

arrow_forward_ios