Niobrara Capital has committed to a full-floor lease at Marx Realty’s 545 Madison, taking the entire ninth floor in the Midtown Manhattan office tower known as the Baccarat Building. The private equity firm, which concentrates on investments in technology and technology-enabled services businesses, signed for approximately 11,000 square feet in the Plaza District property.
The building has been rebranded through an office co-branding partnership between Marx Realty and lifestyle brand Baccarat, giving the tower its Baccarat Building moniker. The collaboration emphasizes hospitality-inspired elements throughout the property, positioning the address as a differentiated option within one of Manhattan’s most competitive office submarkets.
Marx Realty president and CEO Craig Deitelzweig noted that recent activity at 545 Madison reflects ongoing interest from high-end tenants in locations that combine a strong Plaza District address with elevated design. He described the property as featuring a warm, club-like atmosphere and refined finishes, with Baccarat design influences contributing to a distinct workplace environment that aims to stand apart from more traditional office offerings.
The 11,000-square-foot commitment by Niobrara Capital adds to what Deitelzweig characterized as continued leasing momentum at the tower. The deal underscores demand from investment and financial services firms seeking space that aligns with both client-facing expectations and employee experience priorities, particularly in buildings that lean into hospitality-style branding and service.
On the tenant representation side, Newmark advised Niobrara Capital, with a team led by CJ Heitner and John Cilmi. Marx Realty was represented in the transaction by Cushman & Wakefield, with Tara Stacom, Peter Trivelas, Harry Blair, and Remy Leibersohn handling the assignment for the landlord. Specific lease economics and term length were not disclosed.
The Plaza District setting, combined with the Baccarat co-branding strategy and hospitality-focused repositioning, provides context for Niobrara Capital’s decision to secure a full floor in the building. The transaction highlights how some office users are prioritizing location and experiential elements when making long-term occupancy decisions in Midtown Manhattan.
