Although Apple recently backed off leasing office space at Macklowe Properties’ LEED Gold hopeful 510 Madison Avenue , the developer does have some fresh good news to share in advance of today’s planned topping off of the 350,000-square-foot, 30-story tower. Famed luxury watch purveryor Tourneau has inked a 3300-square-foot lease for retail space at the building’s East 53rd Street corner. Macklowe Chairman and CEO Billy Macklowe told the New York Post that the property should be ready for occupancy by the end of the year.
Although Macklowe has only inked one office tenant to date (investment outfit Jay Goldman & Co .), Mr. Macklowe is confident that the tower will perform as planned. “I think all markets cycle,” he told the Post . “We’re still in the Plaza District, the premier business district in Manhattan.” The Post reports that the project’s shimmering glass curtain wall- already rising along Madison Avenue- is debuting to rave reviews from neighboring tenants. Asking rents for the retail space secured by Torneau were $600 per square foot; Robert K. Futterman represented the tenant, with an in-house team for Macklowe.
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