Global Financial Technology Provider Finastra Expands into Penthouse at RFR Realty’s 285 Madison Avenue

9/19/17

~ RFR Redevelopment is Now 90% Occupied ~

RFR Realty LLC today announced that global financial technology provider Finastra – created when Misys and D+H joined forces in June this year - has expanded into the 11,275-square-foot, full-floor Penthouse at 285 Madison Avenue, a newly repositioned office tower located steps from both Grand Central Terminal and Bryant Park.The company already occupies 23,500 square feet on the fourth floor.

Finastra is the third largest Fintech (financial technology) firm in the world. It has over 9,000 customers across 130 countries, including 48 of the top 50 banks globally. The expanded office space will bring all New York-based Finastra employees under one roof. The landlord was represented by Alexander Chudnoff, Mitchell Konsker, Dan Turkewitz and Diana Biasotti of JLL, as well as RFR’s Senior Vice President and Director of Leasing AJ Camhi. Jon Sarkisian, Neil King and Emily Jones of CBRE represented the tenant in the lease transaction.

“We are delighted that this exciting global financial technology firm, Finastra, has chosen to expand its presence within 285 Madison,” said Mr. Camhi. “The leasing velocity we’ve seen here since wecompletely reimagined this well-located office tower speaks volumes about tenants’ desire to match a sought-after location with an array of exceptional on-site amenities.”

The Finastra expansion comes on the heels of Tommy Hilfiger (PVH Corp.)signing a 200,000-square-foot lease to relocate itsU.S. corporate headquarters to 285 Madison Avenue, joining prestigious global firms includingBrighthouse Financial, Pepsico, Bessemer Venture Partners, StriVectin Operating Company and General Electric Company.

In addition to the flurry of new office leasing at the building, recent retail deals at 285 Madison Avenue will bolster the building’s transformation, adding additional amenities for tenants and the surrounding neighborhood. The Benjamin Group—the restaurant operator behind the Benjamin Steakhouse and Sea Fire Grill concepts—signed a 16-year lease for9,020 square feet for a Benjamin Steakhouse.Popular Community Bank, part of the international financial services group Banco Popular, signed a lease for the 3,553-square-foot corner space.London-based coffee purveyor Taylor Street Baristas occupies 1,040 square feet of space adjacent to the restaurant, as well as a portion of the mezzanine.

The building was acquired by RFR vacant in 2012 and has been transformed through a $65 million comprehensive gut renovation and design upgrade. This includes a landscaped roof terrace with lounge seating and an adjacent indoor multipurpose collaboration space with tables and selected art.The building lobby also has a rotating contemporary art program, currently featuring works by Peter Dayton, Enoc Perez, and Mike Bidlo. Other tenant amenities include a private lounge, event space, fitness center complete with showers and men’s and ladies’ locker rooms, and a bike storage area.

About RFR

RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990’s, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR’s portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.

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