Marx Realty has announced that investment advisory firm Helix Partners Management signed a five-year, 7,000-square-foot lease on the eighth floor of 545 Madison. The firm is relocating from 399 Park Avenue to take advantage of the Plaza District office tower’s updated amenities and increased occupancy rates.
Since Marx Realty took over 545 Madison in 2019, occupancy rates have risen from 68% to almost full capacity with asking rents now ranging between $88 and $130 per square foot – an increase compared to prior rates which ranged from $60 to $70 per square foot.
As part of Marx Realty’s ongoing commitment towards sustainability initiatives, they are planting three trees in local communities for each lease signed at any one of their office properties – including this latest agreement with Helix Partners Management. Greg Maurer-Hollaender represented Helix Partners during negotiations while a Cushman & Wakefield team led by Tara Stacom represented Marx Realty throughout the process.
