Aquarian Holdings LP has signed a lease for the 75,000 square-foot penthouse at 550 Madison Ave., a coveted location in Midtown Manhattan. This move marks a significant milestone as the building, recently upgraded by Olayan Group after their $1.4 billion purchase and a subsequent $300 million investment, becomes nearly fully leased. High-profile tenants like Chubb and Hermes anchor the space, while retail opportunities are also being filled. The tower's leasing performance has been exceptional, making it a benchmark for the recovering office market post-pandemic.
Aquarian Holdings LP has secured the sought-after penthouse at 550 Madison Ave., highlighting a notable recovery in New York's office market despite pandemic challenges.
Olayan Group's impressive investment of over $1.7 billion in upgrading 550 Madison, which includes extensive redesign and modernization, has attracted major tenants.
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