Medallion Financial Signs 9,000-Square-Foot Lease at 667 Madison Avenue
Medallion Financial Corp. (MDLX) signed an 11-year lease for 9,000 square feet at Hartz Group's 667 Madison Avenue, relocating from 437 Madison Avenue twelve blocks north.
Medallion Financial Corp. () signed an 11-year lease for roughly 9,000 square feet at Hartz Group's 667 Madison Avenue, a 25-story, 267,000-square-foot office tower at the northeast corner of East 61st Street. The commercial finance company relocated from Sage Realty's 437 Madison Avenue on East 49th Street, moving twelve blocks north. Asking rent in the building runs from $120 to $190 per square foot.
Medallion Financial was represented by brokers at Hanley Advisors and Sage Realty, along with broker Alan Grossman. Hartz Group did not disclose whether it used outside brokers. President and CEO Andrew Murstein said the company is "proud to be planting our flag in the heart of Manhattan" and noted that the firm is actively growing its loan portfolio and expanding into new areas of specialty financing. Medallion Bank, the company's banking arm, remains based in Salt Lake City, Utah.
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