World Economic Forum USA inked a 39,000-square-foot lease at RFR Realty’s 350 Madison Avenue.
The nonprofit, the North American arm of the World Economic Forum, will move into the space this summer and take two full floors at the 25-story office building between East 44th and East 45th streets.
The asking rent was said to be in the low $70s per square foot, the New York Post reported.
Aby Rosen’s RFR bought the building for $261.5 million in 2013, and upgraded the 394,000-square-foot prewar tower with new tenant amenities, a new lobby, art installations, and new storefronts.
World Economic Forum USA will move from its 25,000-square-foot offices at Cohen Brothers Realty Corporation’s 3 East 54th Street.
Newmark Grubb Knight Frank Robert Silver and Scott Brown represented World Economic Forum USA. JLL’s Mitchell Konsker and Alex Chudnoff, along with RFR’s AJ Camhi in-house, represented the landlord.
Konsker told the Post the building’s repositioning “has yielded great results and helped make a transaction such as this possible.”
Other tenants at the building included Bank Leumi USA, which leased 59,000 square feet last year. [NYP, 2nd] — Dusica Sue Malesevic
Source: The Real Deal