Madison Realty Capital has signed lease at Tishman Speyer’s 520 Madison Avenue and will move its headquarters into the building.
The private lender will take 20,000 square feet on the 35th floor of the 1 million-square-foot office building, it said Wednesday. In a statement, Madison’s managing principal Josh Zegen said that the move was part of an expansion strategy at the firm.
“Our continuous growth required additional space to accommodate the needs of our business with room for anticipated future expansion,” he said.
A Cushman Wakefield team led by Adam Doneger, Anthony LoPresti, and Ethan Silverstein represented Madison in the deal.
The company, which now has 70 employees, will move from its current space at 825 Third Avenue, where it was located for a decade. The move follows the firm’s recent closing of Madison Realty Capital Debt Fund IV LP, its fourth and largest debt vehicle, which raised $1.1 billion.
The firm will join a host of the city’s high profile financial firms in the building, including Ken Griffin’s Citadel and the Carlyle Group.
Tishman Speyer previously feuded with rival landlord SL Green Realty at the building, after the latter offered to take the space leased by the Carlyle Group as part of a play to lure the financial firm to One Vanderbilt.