Lefcourt Colonial Building Welcomes New Tenant
- Nov 21, 2019
Eretz Group has signed a 10-year, 15,875-square-foot lease with BCM One at Lefcourt Colonial Building in Midtown Manhattan. The tech company will occupy the property’s entire fifth floor, relocating its New York operations from 521 5th Ave.
The 47-story tower encompasses 105,600 square feet, Yardi Matrix data shows. Built in 1924, it recently underwent a capital improvement program which resulted in upgraded lobby, new building systems, destination-dispatch elevators and tilt-and-turn windows, as well as improved security systems. The landlord also restored the exteriors.
Located at 295 Madison Ave. in the borough’s Times Square submarket, Lefcourt Colonial Building sits one block away from Grand Central Terminal and Bryant Park. A wide array of retailers, eateries and cafes, as well as landmarks are nearby.
Colliers International Managing Directors Cryder Bancroft and Josh Goldsmith represented the tenant in the lease transaction. Cushman & Wakefield’s William Fressle, Drew Braver, Eric Hazen, Anthony Cugini and Peter Kerans acted on behalf of the owner. Earlier this week, the company represented another tenant in a 320,000-square-foot lease in the area.