CBRE team recaptures coveted trophy space for two firms.

The CB Richard Ellis team of Brian Gell and Laurence Briody recently arranged two new leases at 535 Madison Avenue totaling more than 27,000 s/f.

Serving as the exclusive leasing agent, CBRE was able to recapture space within the fully leased trophy property and to expand the tenant roster with high-profile financial companies.

Designed by Edward Larrabee Barnes and built in 1982, 535 Madison Avenue is a 37-story, 475,000 s/f trophy office tower, situated on the northeast corner of 54th Street and Madison Avenue. Due to its ideal floor plate size ranging from 11,000 to 15,000 s/f, 535 Madison Avenue has been fully occupied for a number of years.

CBRE was able to proactively recapture space on two floors and negotiated a 15,000 s/f lease for Monarch Alternative Capital and a 12,300 s/f commitment by Banco do Brasil on behalf of the ownership, Madison Tower Associates Limited Partnership.

Independent investment advisory firm Monarch will take over the entire 26th floor of the property during the first quarter of 2009. Neil Goldmacher and Arthur Draznin of Newmark Knight Frank represented Monarch in the lease negotiations.

Banco do Brasil signed a long-term lease for the entire 34th floor.

Jonathan Schindler and Aron Scheier of Colliers ABR acted on behalf of Banco do Brasil.