Jones Lang LaSalle


Antipoverty group moves to Madison

A nonprofit that works to alleviate poverty in the developing world is moving its headquarters from the Upper East Side to Madison Square.

This summer, the Synergos Institute will move into 23,350 square feet at the New York Life Insurance Building at 51 Madison Ave., between East 26th and East 27th streets. The asking rent in the building is about $45 a square foot.

The institute, which does work in Latin America and South Africa, occupies smaller offices at 9 E. 69th St., between Madison and Fifth avenues.

The only space available to lease at 51 Madison is several floors at the top of the building.
"We had 300,000 square feet to lease a little over a year ago, and now the only full floors left are in the tower," says Paul Glickman, executive vice president at Cushman & Wakefield Inc., which represented the landlord. Seven tower floors--or 91,000 square feet--are available for lease.

Brokerage firm Williamson Picket Gross Inc. represented the tenant.

--Julie Satow