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Finance firm takes 90,000 s/f at renovated 340 Madison.


Cushman & Wakefield announced that National Financial Partners Corp., a national network of independent financial advisors specializing in life insurance and wealth transfer, corporate and executive benefits, and financial planning Financial planning

Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against
 and investment advisory services advisory services

advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal
, has leased nearly 90,000 s/f at 340 Madison Ave. for its corporate headquarters.

NFP NFP Not for Profit
NFP Natural Family Planning (contraception)
NFP National Focal Point
NFP National Financial Partners Corp.
NFP Nurse Family Partnership (Denver, CO) 
 signed a 15-year lease for the 19th, 20th and 21st floors at 340 Madison Ave., located between 43rd and 44th Streets, and will relocate from 787 Seventh Ave., where it currently occupies approximately 35,200 s/f. NFP is expected to move into its new office in the second quarter of 2008.

Cushman & Wakefield executive director Alexander Chudnoff and associate director Haley Klein represented NFP in its site selection and in lease negotiations.

Cushman & Wakefield vice chairman Mitchell Konsker, executive vice president Matthew Astrachan as·tra·chan  
n.
Variant of astrakhan.
, director Robert Gallucci Robert L. Gallucci (born February 11, 1946) is Dean of the Edmund A. Walsh School of Foreign Service at Georgetown University in the United States. Before his appointment in 1996 he was employed for 21 years by various governmental and international agencies, including the , and Strategic Agency Services managing director LeRoy Wilde are the exclusive leasing agents for 340 Madison Ave., and represented owner Broadway Partners.

"This was an ideal opportunity for NFP to accommodate its rapid growth and include several of its Manhattan-based firms along with its corporate headquarters into contiguous space in a class-A office tower," said Chudnoff.

"The extensive renovations and refurbishments, along with its location, has made 340 Madison Ave. one of New York's premier corporate addresses," said Konsker.

"The principals at Broadway Partners and NFP worked together throughout the transaction, resulting in an expedited process that met both parties' requirements," added Astrachan.

Founded in 1998, NFP is a leading independent distributor of financial services products to high net worth individuals and entrepreneurial companies. NFP is headquartered in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 and operates a distribution network of over 175 firms.

Broadway Partners acquired 340 Madison Ave. in November 2006. The building had been completely redeveloped from a 550,000 s/f property to a modem, 750,000 s/f glass office tower. Following its acquisition, Broadway Partners implemented further renovations.

In addition to NFP, major tenants of 340 Madison Ave. include McDermott Will & Emery, Massachusetts Mutual Life Insurance Co. and Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. .
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Comment:Finance firm takes 90,000 s/f at renovated 340 Madison.
Publication:Real Estate Weekly
Date:Sep 26, 2007
Words:342
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