In a rare opportunity in the highly-desirable Plaza District in Midtown Manhattan, CBRE has been retained as the exclusive commercial leasing agent for 575 Madison Avenue, a premier, well-positioned office property at the prominent intersection of 57th and Madison. The building is owned by Steinberg & Pokoik and currently features approximately 75,000 sq. ft. of available contiguous space across the eighth through tenth floors. Additionally, two prebuilt spaces on the seventh floor each span approximately 3,200 sq. ft. Ownership has recently completed a comprehensive capital improvement program, including a fully renovated lobby and elevator cabs.
CBRE’s Peter Turchin, Dave Hollander, Gregg Rothkin, Caroline Merck, Brad Auerbach and Will Stark are leading the leasing and marketing efforts for the property.
“575 Madison Avenue is truly a gem of a building. Located in the heart of the highly sought-after Plaza District, the double-wide streets at 57th and Madison Avenue allow for great natural light throughout the entire building. In addition to a brand new lobby, tenants will also have private terrace and penthouse opportunities coming to market in the very near future,” said Turchin.
This amount of quality, contiguous space has not been available in the building for many years. An additional approximate 215,000 sq. ft. contiguous block of space across the 11th through 23rd floors of 575 Madison Avenue will become available in 2022, as well as floors 26 and 27 that create an approximate 6,000 sq. ft. unique penthouse opportunity with higher ceilings and a private terrace. Floors 14, 17, and 21 and also include terraces within the larger contiguous block. “With typical floor plates ranging from approximately 8,000 to 25,000 RSF, the building offers a rare opportunity for full-floor users in a prestigious tower with strong, stable ownership,” added Merck.
The owner-occupied, 27-story property features a recently renovated lobby, new retail space, upgraded elevator cabs and a parking garage just steps away from world class businesses, restaurants, hotels and shopping. The building is in close proximity to numerous public transportation options, including the 4, 5, 6, N, R, W, E and M trains
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
