The tower at 71 Fifth Ave. is about to get a new front entrance and an improved lobby in Manhattan’s Flatiron District. Madison Capital bought the longterm leasehold at the property earlier this year.

The 170,000-square-foot building is fully-occupied for now, but a 15,389-square-foot space on the fifth floor will become available in September. The 11-story tower was originally built in 1906 to a design by Charles Volz.

“The neighborhood and upcoming capital improvements make the building an attractive space,” said J. Joseph Jacobson, partner with Madison Capital, which has picked JLL as leasing agent for the building.

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