NEW YORK, February 18, 2015
– Colliers International
has arranged a long-term, full-floor lease at 136 Madison Avenue, with world-renowned Peter Pennoyer Architects taking the entire 11th floor, totaling 18,634 square feet. With this new transaction 136 Madison Avenue is now 100 percent leased.
Located in the heart of the bustling NoMad District between 31st and 32nd Streets, 136 Madison Avenue is an elegant, 17-story, tech-friendly building that continues to draw significant interest from a wide range of new media, technology, and traditional service-oriented firms unable to find available space in Manhattan’s Chelsea, Meatpacking, and Flatiron districts.
The well-located, 150,000-square-foot, turn-of-the-century property includes a dramatic and meticulously restored 16-foot high, art deco entrance on Madison Avenue, an elegant concierge desk that is attended 24 hours per day, new passenger elevators, and right-sized floor plates.
While the property is now fully leased, two contiguous floors — entire 3 and 4 — will become available for lease at 136 Madison Avenue beginning in the second quarter, offering for lease approximately 20,000 square feet per floor, and 40,000 square feet total. Multiple tenants have already inquired about the space.
Relocating within Midtown South to accommodate its growth, Peter Pennoyer Architects is the winner of a 2014 Stanford White Award for the restoration of an Italianate row house in the Greenwich Village Historic District, and is widely recognized as one of the design world’s most accomplished practitioners of classical architecture.
With a portfolio encompassing apartments, townhouses and country houses — as well as institutional and commercial clients — the firm has undertaken projects for such blue-ribbon institutions as the Colony Club and the Knickerbocker Club in Manhattan, and the exclusive Hotchkiss School in Lakeville, CT.
“New media and traditional service companies are facing a dearth of affordable options in the Chelsea, Flatiron, and Meatpacking districts, instead seeking out high-quality space in alternative neighborhoods,” said Andrew Roos, a Vice Chairman of Colliers International Tri-State, who leads the leasing efforts on behalf of the owners, which include the Cohen, Roos, and Carmel families. “With its museum-like lobby and close proximity to major attractions such as the Empire State Building, Grand Central, and Penn Station, 136 Madison Avenue has become a destination of choice among tech and other creative firms looking for a prime location, with an uptick of activity on all floors.”
Ideally situated at the intersection of Midtown South’s emerging media/technology corridor, Midtown’s business district, and the Murray Hill neighborhood, 136 Madison Avenue is easily accessible to transportation and is in close proximity to a diverse range of hotels, restaurants, parks, and shopping. The building’s main lobby features three magnificent, multi-tiered chandeliers hanging from the coffered ceiling. The building has a secondary lobby on 31st Street and a covered loading dock on 32nd Street.
David Rosenbloom and Emily Weber, of Cushman & Wakefield, represented Peter Pennoyer Architects in the full-floor lease.