N
orth of 42nd Street on Madison Avenue, a surge of deals is reshaping the skyline. Guggenheim’s recent lease renewal at 330 Madison saw the hedge fund extend its 17‑year lease and grow its space from 240,000 to 360,000 square feet. The 850,000‑square‑foot tower between East 42nd and East 43rd is now fully occupied, with base rents in the low $90s per square foot and premium floors above $100.

    Munich Re, the building’s owner, used its own capital to retire a $500 million Wells Fargo mortgage and added a 10,000‑square‑foot wrap‑around terrace on the 16th floor for tenants. Guggenheim’s representatives declined to comment, but the deal involved brokers from JLL (Frank Doyle, David Kleiner, Carlee Palmer), Savills (Peter Hennessy), and Bradford Allen (Ben Azulay).

    Current occupants of 330 Madison include JLL, Deutsche Bank AG, and HSBC, with retail tenants such as Eton and Citibank. The expansion underscores the vitality of the corridor north of Grand Central. The momentum began with SL Green’s One Vanderbilt, and the area now hosts projects like BPX’s new tower at 343 Madison and SL Green’s planned 41‑story development on the former Brooks Brothers site at 346 Madison.