October 17, 2023 9:00 AM
Newmark has secured a 31,383-square-foot office lease extension and expansion for investment management firm Holocene Advisors, LP (Holocene) at 11 East 26th Street in the NoMad district of Midtown, Manhattan. Newmark Vice Chairman William Cohen and Associate Ariel Harwood represented 11 E 26th Street’s owner-developer, Rockrose Development, in the transaction.
Holocene is expanding its existing 19,259-square-foot office space — initially located on the 8th floor of 15 E 26th Street — with an additional 12,124 square feet of space. The expansion is in conjunction with Rockrose’s capital improvement plan to reinvent 11 E 26th Street by combining the two adjacent boutique buildings into one complex overlooking Madison Square Park, blending the beauty of classic New York City architecture with crafted workspaces and amenities.
“This is an incredible opportunity for Holocene to expand their business as they take over a large floor plate often lacking in this neighborhood,” said Cohen. “Rockrose’s inspiring revamp of these buildings into one property creates a much-needed large best-in-class space for users looking for top-quality space in the trendy NoMad submarket.”
The reimagined property offers boutique offices, expansive combined floor plates and astounding views of Madison Square, spanning a combined 415,000 square feet. The lobbies of the West Building at 11 East 26th and the East Building at 15 East 26th have been elegantly expanded with natural finishes to honor the neighborhood’s beauty. Other notable upgrades at the asset include a newly landscaped roof deck with an indoor/outdoor pavilion for events and lounging, a second-floor Amenity Club with a lounge, fitness facility, whiskey and wine lockers and upgraded mechanicals and infrastructure.
“Holocene’s lease transaction perfectly aligns with our capital improvement plans to expand the existing office building at 11 E 26th Street, demonstrating to tenants the possibilities with this new offering,” said Rockrose’s Ted Traum. “By combining the two office buildings, we’re able to provide tenants unparalleled views of Madison Square Park and impeccably designed workspaces and amenities.”
11 East 26th is centrally located between Madison & Fifth Avenues on the northern edge of Madison Square Park — making it the true definition of NoMad. With its seamless access to transportation, dining, luxury hotels and boutique shops, the neighborhood rounds out the workday with energy, ease and historic charm.
CBRE’s Ben Friedland, Taylor Scheinman and Gary Davis represented the tenant in the transaction.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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