Finance Firm Leases Push 545 Madison Toward Half-Full
October 7, 2010
By: Lauren Kusisto

545 Madison Avenue

Financial services firms may be an endangered species, but at least three survivors have found a gleaming glass sanctuary at 545 Madison Avenue....

... Meanwhile, environmental investment firm RNK Capital is revving up for the explosion in carbon trading by taking 7,175 square feet for the next five years. It will be joined by Super Derivatives, which has signed a 10-year deal for 6,217 square feet in the building. ...

... The new leases bring the building's occupancy to 40 percent, which has been transformed from ugly duckling to a chic LEED Gold trophy, in part thanks to nine-foot glass plates that replaced the 1950s brick. Once one of the Plaza district's cheapest spots, asking rents for the recent deals were in the mid-$70s.

CB Richard Ellis has been representing LCOR since June. Patrick Heeg and Ryan Masiello of Jones Lang LaSalle represented James Caird. Studley's Jeff Peck represented Super Derivatives. Evan Margolin, also of Studley, represented RNK.

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