New York Life Insurance Company filed a memorandum of lease amendment with George Comfort & Sons

New York Life Insurance Company, as tenant, signed a memorandum valued at $7.5 million amending a lease with landlord George Comfort & Sons through its entity 63 Madison Owner Llc for a portion of 1 parcel, including the tax class office building with ten stories or more (main avenue type) (O3) at 63 Madison Avenue in Nomad. The memorandum was signed on July 29, 2019 and was recorded on August 21, 2019
The entire property contains a total of 675,986 square feet of built space. The number of square feet in the lease was not disclosed.
It is not clear what the $7.5 million represents. This is the fourth amendment to the original lease from 1995. The last time the property sold was January 01, 2013, when a stake with an undisclosed ownership percentage in the building sold for $85,754,263.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on September 25, 2013.
Over the past five years, there have been 28 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $13,261,000. There were 27 renovation/alteration projects (A2) applied for with a total estimated value of $15,512,870.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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