Latest News Article
The Sapir Organization Signs 5,648 sq. ft. Lease at 261 Madison Avenue with UBE America, Inc.
New York - The Sapir Organization today announced that UBE America, Inc., a pharmaceuticals and chemicals manufacturer has signed a 5,648 square foot lease at 261 Madison Avenue. The building will be home to UBE America's New York offices.
This lease highlights The Sapir Organization's commitment to providing extraordinary building amenities and their draw to prime tenants. " I am thrilled that a multi-national company such as UBE America with global reach chose 261 Madison Avenue for their new office location in New York City. UBE America will feel at home amongst the building's other international tenants. This lease confirms our commitment to providing an excellent corporate environment at 261 Madison, and the strength of this building within the Midtown market, " said Alex Sapir, president of The Sapir Organization.
UBE America's 5,648 square foot lease is for 10 years and three months and occupies the entire 28th floor; the top floor with the best views. Rents at 261 Madison Avenue have been averaging $68 a square foot. The Sapir Organization is represented by CB Richard Ellis' team of Howard Fiddle and Joseph Mangiacotti.
" UBE chose 261 Madison Avenue for its new offices because of its central location; the building additionally offers the benefit of being only steps away from both Grand Central Terminal and Penn Station. The investment that The Sapir Organization has most recently made into this building added markedly to its appeal, " explained Tatsuru Kono, Cushman & Wakefield, representing agent for UBE America. 261 Madison offers tenants spectacular views. The 28-story building includes 11 tower floors with over 5,400 square feet each and eight mid tower floors ranging from 10,000 to 20,000 square feet each.
261 Madison Avenue is a 28-story office tower with 385,046 square feet that is uniquely located between Midtown and Midtown South on Madison Avenue between 38th and 39th Streets. The building, built in 1957 and designed by Emory Roth, offers superior amenities to tenants including 24/7 building access and security, a messenger center, cleaning staff, on-site building management staff, a loading dock and parking garage.
UBE America is part of a leading industrial corporation with roots in Japan. The Company is involved in extensive research and the development of new products to assist those in the pharmaceutical, aerospace, agricultural, textile, electronics, and automotive industries. UBE Global has over 11,000 employee's world wide.
UBE America joins other prominent corporate tenants at 261 Madison Avenue such as Signature Bank, Primedia, Inc., Target Health, Inc., AFTRA, Howard-Sloan Search Inc., Staples, and FedEx Kinko's.
About The Sapir Organization
The Sapir Organization is a privately held, New York–based real estate holding and development firm with over 7 million square feet of prime Manhattan commercial office space. Founded by Chairman Tamir Sapir, the company is developing mega new residential and multi-use projects under the leadership of its President Alex Sapir and Vice President Zina Sapir-Rosen. The Sapir Organization owns significant architectural landmarks throughout Manhattan including 11 Madison Avenue, The Duke Semans Mansion, 2 Broadway, 260 Madison Avenue, 261 Madison Avenue, 384 Fifth Avenue, 100 Church Street, and two residential buildings, 50 Murray Street and 53 Park Place. Additionally, the company has expanded its reach with SDS Investments, an investment and development company that funds a wide range of real estate projects including the William Beaver House, a residential condominium currently under construction in the Financial District and the largest assemblage of land in Las Vegas at 110 acres. The Sapir Organization has partnered with Donald J. Trump to develop the Trump SoHo Hotel and Condominium New York, the first five-start luxury hotel condominium under construction in SoHo. Sapir is at the forefront of the revitalization of downtown Manhattan and currently has projects in the U.S. and Mexico in excess of $2 billion.
