Two New Startup Leases Bring 136 Madison in New York to Full Occupancy

Two New Startup Leases Bring 136 Madison in New York to Full Occupancy

Williams Equities’ recently-closed office leases at its 136 Madison Avenue property have brought the Midtown South building to full occupancy. The landlord has signed two 10-year, 18,300-square-foot leases with hair growth product maker Nutrafol and fintech company ComplySci, according to the Commercial Observer. The asking rents for both contracts were reportedly somewhere in the low-$60s per square foot.

Fintech company ComplySci will be taking over the 8th floor of the 17-story high-rise on Madison Avenue later this year. The company founded in 2003 will be moving offices from its current home on the 12th floor of 875 Avenue of the Americas, where it occupies 11,500 square feet. Dennis Someck and Justin Meyers of Lee & Associates NYC negotiated the lease deal on behalf of ComplySci, while Mac Roos of Colliers International represented the landlord in both deals.

The risk management and compliance solution ComplySci was created in 2003 and today serves roughly 1,000 institutions around the world. The clients that the fintech company serves operate in industries such as investment banking, insurance, professional services, brokerage, hedge and pension funds, private equity, and public corporations. ComplySci also runs a European office in London, and was named one of America’s fastest-growing private companies on the Inc. 5000 list in 2018. It also received two 2019 American Business Awards for Fast Growth and Innovation, namely for the Fastest-Growing Tech Company of the Year and the Most Innovative Tech Company of the Year.

‘Hair wellness’ startup Nutrafol will be moving from its current office at 28 West 27th Street between Broadway and Avenue of the Americas to the 10th floor of 136 Madison Avenue. The lease was brokered by Colliers’ Mac Roos on behalf of the landlord and by CBRE’s Freddie Fackelmayer and Brett Kaye for Nutrafol. The non-prescription hair health brand was launched in 2016 and provides personalized, natural solutions for thinning hair through its line of ingestible products. Their products are currently carried in 1,300 stores, clinics and hair salons across the U.S. The company made the news not long ago, when it raised $35 million in Series B funding, in one of the 10 largest New York City tech startup funding rounds of April 2019.

The 17-story, 300,000-square-foot building at 136 Madison Avenue was once the heart of a corridor that catered to the lingerie industry, according to Crain’s, but has recently turned into an attractive destination for startups and financial services looking for quality Midtown Manhattan office space.

Built back in 1916, the Class A property is LEED Silver-certified, features ground-floor retail, and currently houses tenants like Regus, Syracuse University, Greenkey Resources and Jupiter Entertainment. These latest leases signed by Williams Equities with Nutrafol and ComplySci bring the building’s occupancy to 100%. The owner is currently in the midst of completing the addition of a new amenity at the site, namely a $1.5 million outdoor roof space.

Are you thinking of setting up your business in a convenient location in Manhattan, and are looking to lease space in a modern building offering state-of-the-art amenities? Then reach out to us and we will show you worthwhile space situated right in the heart of New York City. To learn about available office space, call Metro Manhattan Office Space at (212) 447-5403.