Niobrara Capital has inked a 10-year, full-floor lease at 545 Madison Ave. in Midtown.
The private equity firm signed for 11,000 square feet at the building owned by Marx Realty.
Niobrara Capital is relocating from its previous office at 345 Park Ave. because “they wanted to be in the Plaza District and fell in love with the building,” according to a spokesperson for Marx Realty.
Also known as the Baccarat Building, 545 Madison Ave. is home to the U.S. headquarters of luxury French crystal label Baccarat. In partnership with the brand, the building features Baccarat chandeliers, fixtures, barware and accessories. Other current tenants include private equity firms Millennium Partners, Snow Phipps, Kohlberg, Orangewood Capital and Vialto Group.
“The building’s warm, club-like sensibility, refined design and unmistakable Baccarat touches continue to resonate with premier firms looking for a workplace that feels elevated, elegant and distinctive,” said Marx Realty CEO Craig Deitelzweig in a statement.
Niobrara Capital will take the entire ninth floor of the 140,000-square-foot building. The asking rent was $145 per square foot, according to Marx Realty.
CJ Heitner and John Cilmi of Newmark represented Niobrara Capital on the deal. Tara Stacom, Peter Trivelas, Harry Blair and Remy Leibersohn of Cushman & Wakefield represented Marx Realty.
The property was built in 1955 and redeveloped in 2008.