New Tenant Signs New Lease For Full Floor at Mitsui Fudosan America's 527 Madison Avenue

9/19/17

Mitsui Sumitomo Marine Management (USA), Inc. signed a new lease for the entire 18th floor at 527 Madison Avenue, the Class A office tower owned by Mitsui Fudosan America. It will occupy the 7,500-square-foot, move-in ready space this month. The additional space is intended to support continued expansion in New York. The company will retain its current 560 Lexington Avenue location as its executive office.

"The new office accommodates our growing underwriting team in New York and its location is convenient for our current and prospective employees, as well as clients," said Christopher Haarmann, president & COO of MSMM. "The readily available space also makes the move seamless, so our operations can continue with minimal interruption and maximum efficiency."

“We are excited to have Mitsui Sumitomo Marine Management join 527 Madison’s roster of diverse businesses and are pleased to accommodate its growth with a full-floor availability of this size,” stated Jim Frederick, a vice chairman with Cushman & Wakefield and exclusive leasing agent for the building. “The Plaza district is a highly desirable Manhattan submarket that is experiencing an increase in leasing activity and Mitsui Fudosan America is committed to providing tenants with turn-key solutions.

“Additionally, MFA is a sophisticated landlord capable of tailoring lease terms to tenant requirements and providing desired amenities,” he said.

MFA unveiled a new, setback terrace on the 10th floor overlooking the Plaza District, where tenants can enjoy beautiful weather and host evening events. The 240,000-square-foot, 26-story tower completed significant renovations in 2015, including elevator modernization and the addition of a MdeAS-designed lobby that serves as a rotating art gallery for local artists.

Currently, there is a newly constructed full-floor, pre-built available totaling 12,900 square feet on the fourth floor with natural light and high ceilings. Designed by LB Architects, its features include an open-concept kitchen with high-end finishes and stainless steel appliances, breakout areas and offices.

“Its layout and design meets the needs and aesthetic of a variety of tenants in the market,” noted Frederick.

The tenant negotiated directly with Keith Purcell, vice president, Asset Management and Leasing for Mitsui Fudosan America, and Mr. Frederick. Mr. Frederick, Peter Occhi and Gordon Hough are exclusive leasing agents for 527 Madison Avenue.

About 527 Madison Avenue

527 Madison Avenue, located at the corner of 54thStreet in New York City, is a boutique commercial office building designed by celebrated architectural firm FXFOWLE. Completed in 1986, it is owned by an affiliate of Mitsui Fudosan America, Inc., which recently invested in significant upgrades including elevator modernization and a new MdeAS-designed lobby.

About Mitsui Fudosan America, Inc.

Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York City and is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. – Japan’s largest publicly traded real estate company. MFA’s history in the United States dates back to the early 1970s. Since its inception, MFA has acquired and developed numerous office, multifamily and hospitality properties in major markets throughout the U.S. In addition to its significant portfolio of office buildings, MFA recently expanded its development platform, with several office and multifamily development projects launched in New York, Seattle, San Francisco, and Washington D.C.

About MSMM

MSMM is the Manager of three United States insurers: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America. MSMM, and the United States insurers, are part of a global network of operations and members of the MS & AD Insurance Group (“MSIG”). MSIG is considered among the world’s top property and casualty insurance organizations. MSIG’s United States insurers specialize in providing commercial property and casualty insurance products and also offer risk management services consisting of risk engineering and claims administration and rehabilitation services. For more information, visit www.msigusa.com.

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