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Newmark arranges leases for Madison Square Plaza.

Just four months after its appointment as exclusive leasing agent for Madison Plaza, the five-building complex that occupies the entire blockfront of Madison Avenue between 41st and 42nd Street in Manhattan, Newmark Real Estate Services has arranged 27 leases for 42,000 square feet of new and renewal space.

The leases at 300 to 310 Madison Avenue, and 9 and 15 East 41st Street were negotiated by Arthur H. Lerner, vice chairman, and Scott Bloom of Newmark Real Estate Services, and Martin Mendelson, senior consultant for Newmark & Company, who are spearheading the leasing effort for all four buildings, as well as 308 Madison Avenue.

New tenants at 310 Madison Avenue include The Conservation Company; hotel consultant Robert F. Warner, Inc., represented by Michael Norris formerly of Harper Lawrence, Inc.; Data General, represented by Harvey and Brett Marks of First New York Realty; Wextech Systems, Inc., represented by Robert Hadi of Koeppel Tener & Riguardi; Juniper Partners, Inc., represented by Hank McManus; TNG Legal Temps; Freedom Tours & Cruises, Inc.; Dennis Construction Corp; and the law firm of Richard Kwasnik, Esq.

Lease renewals at the building include the University of Pennsylvania; Morton B. Geltzer DDS; Brady associates International Inc.; Feathered Nest; Cagen Leary; Haft-Gluckman; A.S. Goldberg; Silo International; Diane Glynn Public Relations; Braff; Vision Art & Design; Accountants & Auditors; Pertour International; Levant Distributors; and John Strougo.

In addition, the brokerage team also arranged a 1,152-squarefoot lease for U.S. Merchant Services and a lease renewal for Welsh Publishing at 300 Madison Avenue; lease renewals for Impact Communications on the second floor and mezzanine of 15 East 41st Street and on the 11th and second floor of 9 East 41st Street; and expects to announce a retail lease for the corner store at 300 Madison Avenue imminently.

According to Lerner, along with commissions paid upon lease signing, ownership is offering very aggressive deals at asking rentals that range from $19 to $29 per square foot. All five building offer seven-day access, 24-hour security, pre-built units ranging in size from 500- to 1,500-square-feet and a central midtown location just one block from Grand Central Station and the IRT and BMT subway lines.
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Title Annotation:Newmark Real Estate Services; Madison Square Plaza, New York, New York
Publication:Real Estate Weekly
Date:Sep 30, 1992
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