22 Vanderbilt draws in 5 new leases with major amenity upgrades, Grand Central access
NY Post
In the realm of repositioned “Cinderalla” buildings, Milstein Properties’ 22 Vanderbilt – once known as 335 Madison Ave. – stands with the most elite.
The Madison Avenue tower between East 43rd and 44th streets recently landed five new leases totaling 460,000 square feet, bringing the 1.19 million square-foot address to 91 percent leased. None of the deals were previously reported.
The tower replaced the old Biltmore Hotel at the site. It lost much of its juice after its largest tenant, Bank of America, left 10 years ago. But it recently underwent a quarter-billion-dollar investment in upgrades that brought it 275,000 square feet of new amenities.
The program spearheaded by Michael Milstein, son of company founder Howard Milstein, includes a public-friendly lobby with quality eatery options under the name Melangerie, a luxurious bar/lounge called Bergamo’s, and 80,000 square feet of tenants-only features including conference and wellness centers.
The largest new lease, which was signed last week, was for management consulting firm Bain & Company, which took 235,000 square feet. Bain’s move will double its Manhattan footprint. It will leave Brookfield’s nearby Grace Building, where its former space has already been scooped up by Trade Desk in that firm’s 126,000 square-foot expansion there.
Separately, TD Securities signed for 80,000 square feet at 22 Vanderbilt.
