NEW YORK—Borderfree.com has expanded its footprint at 292 Madison Ave. to occupy 22,226 sq. ft. on the fourth and fifth floors of the property, which is located at the corner of Madison Avenue and 41st Street in Midtown. The company has also extended its lease to span seven years at the property.
Newmark Grubb Knight Frank’s William G. Cohen, executive vice president and principal, and Ryan Kass, senior managing director, represented the ownership in the transaction, while Cassidy Turley’s David L. Hoffman, Jr., executive managing director, and Bryan Boisi, associate, represented the tenant.
“The vision of the new ownership to transform 292 Madison Ave. into a property that appeals to high technology and e-commerce tenants has been realized,” said Michael Reid, a principal of asset manager Herald Square Properties, which manages the property. “The renovations that were implemented, from interior design through infrastructure enhancements, are clearly attracting high-growth tenants, such as Borderfree.com.”