Milstein’s rebranded 22 Vanderbilt lands five office leases

Milstein Properties has landed five new leases totaling more than 460,000 square feet at its rebranded 22 Vanderbilt.

Consulting firm Bain & Company signed the largest lease — 235,000 square feet across four floors of the Midtown office tower across the street from SL Green’s One Vanderbilt. The asking rent varied by floor, between $105 and $120 per square foot.

Bain, which was represented by CBRE’s John Maher, Chris Corrinet and Paul Myers, will more than double its footprint when it relocates from Brookfield’s Grace Building in 2026.

Also at 22 Vanderbilt, law firm Duane Morris signed for about 80,000 square feet on floors 22 and 23 of the 1.1 million square-foot, Class A building, and TD Securities will take about 80,000 square feet on floors 20 and 21.

Alti Tiedemann Global, a wealth manager, signed a lease for 40,000 square feet on the 27th  floor. Law firm Kennedys will occupy 25,000 square feet on the 24th floor.

The lease signings, which were first reported by the New York Post, bring the building to 91 percent occupancy.

The property, formerly known as 335 Madison Avenue, was rebranded in 2022 following a renovation designed by SHoP Architects. The upgrades included a new lobby, a fitness and wellness club, and several dining, conference and event venues.

Duane Morris was represented by CBRE’s Bill Iacovelli and Conor Denihan. TD Securities and Alti Tiedemann were both represented by CBRE’s Ryan Alexander, Matthew Saker and Nicole Marshall.

A CBRE team including Paul Amrich and Neil King and a Brookfield team including Duncan McCuaig and David Caperna represented the landlord. 

The divide between new or renovated office buildings with direct access to Grand Central Terminal, such as 22 Vanderbilt, and more dated buildings just a few minutes east, such as along Third Avenue, has widened since the pandemic began.

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