Trade Association Renews Lease in Grand Central District
Cresa principal Gregg Cohen and VP Nicholas B. Markel have negotiated a 10-year renewal lease at 366 Madison Ave. for the Loan Syndications and Trading Association. The trade association has occupied its approximately 6,851-square-foot, 15th floor offices for nearly 17 years.
The building, which is located between 45th and 46th streets in Manhattan’s Grand Central District, is owned by Ponte Gadea, an investment firm led by Spanish billionaire Amacio Ortega, co-founder of Inditex and Zara clothing stores.
“Despite a surfeit of office space in the area, we determined that renewing the lease met our client’s criteria, while offering great value,” said Markel. “The landlord’s representatives were open to negotiating flexible lease terms that also included refreshing the space with paint and new carpeting.”
The landlord was represented by Stephen Bellwood, executive director, and Gordon Hough, director, both of Cushman & Wakefield.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).