Cushman & Wakefield announced today that it represented Zelman Holdings LLC in a relocation and expansion at 330 Madison Avenue, located at 42nd Street in Midtown Manhattan.
Zelman, which occupied 5,232 square feet on part of the 20th floor in the 41-story office building, will relocate and expand in the building for a total of 9,822 square feet on the entire 34th floor.
Founded in 2007 by veteran equity research analyst, Ivy Zelman, Zelman Holdings LLC provides clients timely, unique and data intensive research, including proprietary monthly surveys of executive-level leaders throughout the apartment, banking, homebuilding, home improvement, land development, mortgage, non-residential construction and single-family rental industries. Zelman Partners LLC, a subsidiary of Zelman Holdings, provides a broad range of financial advisory services and capital raising solutions to the housing industry.
“330 Madison is a great location right next to Grand Central, which makes the commute much more convenient for all of our employees,” said Steve Wank, Chief Operating Officer of Zelman. “The recent renovations the building conducted made the decision to stay at 330 Madison a much easier one.”
Cushman & Wakefield’s Alex Cohen, Senior Director represented Zelman in the original lease at 330 Madison Avenue and in the current long-term transaction. Vornado was represented in-house by Andy Ackerman and David Kleiner from JLL.
“330 Madison was very appealing to Zelman because it allowed them to remain in the building, move to a tower floor with fantastic views and plenty of natural light and occupy a full floor, which offers future growth opportunities,” said Cohen. “Vornado will be constructing a custom, build-to-suit space for Zelman, which is expected to be completed in three months.”