Sublease from Ellis Lake Capital at 444 Madison Avenue
Roughly 10 years ago, Westbrook Partners acquired 444 Madison Avenue for more than $313 million. Westbrook is a privately owned, fully integrated real estate investment management company with offices in many major cities around the world. The 42 story 490,000 square foot tower is located between 49th and 50th streets in the heart of Midtown. The building’s largest tenant is Burberry but, overall, it caters extremely well to financial services firms because of the 5,000 square foot floor plates from floors 23 -42. The industry has become extremely scalable and the same amount of production can be achieved with a smaller workforce. Just a few years ago, hedge fund Ellis Lake Capital leased the entire 40th floor. Our team is about to bring a portion of this space on the market for sublease.
The available space is just under 3,000 rentable square feet and will be hitting the market in the coming weeks. It is currently built with an executive corner office, two glass-fronted perimeter offices, and open area for 8-12 employees (see below for floor plan – blue area on left side). In addition, it has shared access to the wet pantry and a large conference room. The unit features extremely high ceilings in some areas with dropped in others. The open area has two very large windows allowing for ample light to enter the space. The offices have fantastic southern facing views of the Empire State Building and the Metlife Building. Available for possession immediately, this sublease has a term that extends through January of 2021. This fully furnished/wired plug and play opportunity is exactly what start-up hedge funds, family offices, and boutique financial services firms are looking for.
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