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Leasing tops 200,000 s/f at 590 Madison Avenue.

Following a noteworthy year of leasing activity, Cushman & Wakefield announced three new leases at 590 Madison Ave.--Harbourton Enterprises, The Threshold Group and Barclays Global Investors--with leases totaling more than 18,700 s/f, are the latest tenants to commit to the class-A office building.

Since being appointed as the leasing agents for 590 Madison Ave., Cushman & Wakefield brokerage professionals Jonathan R. Serko, Barry Zeller, Donald DiRenzo Jr., David Malawar and Adam Rappaport, along with executive vce president Jeffrey Sussman of Edward J. Minskoff Equities, have successfully marketed the property to prospective tenants.

"We've seen the Plaza District become the go-to spot for some of the world's most sophisticated businesses and retailers," said Mr. Serko.

"Tenants are attracted to 590 Madison because it offers the full package--handsome architecture with modern systems and amenities in a high-profile neighborhood."

The most recent leases include investment firm Harbourton Enterprises, which signed a lease for 10,158 s/f of the ninth floor; family wealth management firm The Threshold Group, which took 3,776 s/f on the fifth floor; and Barclays Global Investors, which leased 4,772 s/f, also taking part of the fifth floor.

The latest deals bring the total square footage leased year-to-date to approximately 200,000 s/f.

Tenants making significant commitments to the building in 2005 include Lovells, CitiGroup Capital Markets, Equinox Capital Management, Brevan Howard, The Travelers Indemnity Company, Henry Kaufman & Company, Latigo Partners, Veritas Capital Fund Management, Frank Russell Trust Co., Cemex Corporation and KBS Realty Advisors.

The Cushman & Wakefield leasing team will continue to market the remaining pre-built units, including 3,483 s/f on the eighth floor and 3,264 s/f on the fifth floor.

Built in 1982, 590 Madison is a 1,016,413 s/f, 43-story class-A office tower located between 56th and 57th Streets.

The surrounding business district includes prestigious retailers Carrier, Tiffany, Barneys New York and Bergdorf Goodman, along with The Plaza, Four Seasons and St. Regis Hotels.
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Publication:Real Estate Weekly
Date:Jan 11, 2006
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