Sage, a privately held commercial real estate services firm that leases and manages more than 2.5 million square feet of Class A office real estate in New York City, signed a renewal deal with Santander Group for its U.S. headquarters. The 191,667-square-foot lease covers floors 5 through 10 at 437 Madison Ave., and the comprehensive new terms extend the current lease for seven years with the option to renew.
“We’re excited to see Santander not only continue to call 437 Madison Ave. their home in the U.S., but also extend their presence here with Sage,” said Sage CEO & President Jonathan Iger.
“This deal, one of the largest seen in the market this year, shows the resurgence of Manhattan’s commercial real estate market,” said Michael Lenchner, Sage’s EVP and director of leasing.
Sage was represented in-house by Lenchner and Jack Brennan, while Santander was represented by a Savills team including Mitti Liebersohn, Arthur Mirante and Anna Erickson.
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