French luxury crystal line Baccarat to move its New York City office
December 18, 2023 | By Julian Nazar
Baccarat is moving its New York City office to 545 Madison Ave.
Baccarat, a French luxury crystal line, has a signed an 11-year lease to move its New York City office to 545 Madison Ave.
The 10,000-square-foot penthouse and mezzanine space is on the 18th floor and includes a private terrace. In addition, Baccarat will have its crystal pieces displayed throughout the building as part of co-branding partnership with building owner Marx Realty.
Asking rent was $135 per square foot.
Baccarat is relocating its New York City office from 635 Madison where it spent the past seven years.
Cushman & Wakefield’s Tara Stacom, Harry Blair, Peter Trivelas, Remy Liebersohn, Connor Daugstrup and Bianca Di Mauro represented Marx Realty on the deal. Lantern Real Estate Advisors + Partners’ Matt Siegel and Jessica Adler represented Baccarat.
“We proposed this partnership to Baccarat as we knew it would represent the perfect coupling of the 545 Madison brand and the Baccarat brand, and would best reinforce the building’s position at the intersection of office, luxury and hospitality,” Marx Realty CEO Craig Deitelzweig said in a statement. “It’s the next step in blurring the lines between the office and hotel experiences while aligning with the regal elegance of the Baccarat brand.”
The property features the “Leonard Lounge,” named after Marx Realty founder Leonard Marx, on the eighth floor, which includes a 7,000-square-foot café, a 2,000-square-foot landscaped terrace, a 40-seat boardroom and a ceiling-suspended fireplace.
Notable tenants at the property include financial software and applications developer Strike Technologies and private equity firms Snow Phipps, Kohlberg & Co., Vialto Partners and Orangewood Capital.
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