Newmark Grubb Knight Frank (NGKF) is pleased to announce the lease-up of two-and-a-half floors at 105 Madison Avenue at the corner of 30th Street. The successes underscore the lure of the enviable and trendy NoMad neighborhood.
Public relations firm Prosek Partners will relocate from Fifth Avenue, taking the entire seventh floor for a total of 13,350 square feet. Alok Industries, a global textile manufacturer, leased 17,600 square feet, covering the entire fourth and part of the fifth floors.
The 20-story, Class A building spanning 267,000 square feet is home to HBO, Domain Select and Empire Office Furniture, among others. The property features a beautiful, classically renovated lobby with high ceilings, along with five passenger elevators.
“This is a pristine and immaculate building that includes tenants from a variety of industries, which is reflective of the vibrancy of the neighborhood,” said Paul Davidson, senior managing director at NGKF, who with Michael Frantz, director, represented ownership. “The owner loved the idea of welcoming these prime, creative tenants and helped make the space work for them by offering tenant generous improvement packages.”
The office is located in one of Manhattan’s hottest neighborhoods NoMad, named for its location north of Madison Square Park. The area boasts high-end boutique hotels such as the Ace Hotel and the NoMad hotel, both of which offer fine-dining, chef experiences. Several luxury condominiums are under construction, including the “Huys” developed by Dutch developers and the new development by Core’s Doron Zwickel. A Fairway supermarket is slated to open soon in the neighborhood.
“It is singularly Manhattan’s hottest, newest neighborhood and everyone wants to be there,” said Mr. Davidson. “It is no surprise the interest we received for 105 Madison Avenue given its location.”
DTZ’s Joe Weinberg represented Prosek Partners in its deal. Barry Bernstein from EVO, with Scott Bloom from Bloom Real Estate, represented Alok Industries.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.