Niobrara Capital, a private equity firm focusing on technology companies in the US and Europe, has signed a lease for 11,000 square feet covering the entire ninth floor of 545 Madison Avenue from Marx Realty. The building is also known as the Baccarat Building. The duration of the lease was not disclosed. According to Marx Realty, the asking rent was $145 per square foot.
It is unclear whether this deal represents a new location or a relocation for Niobrara. The firm lists an office approximately four blocks away at 345 Park Avenue on its website.
CJ Heitner and John Cilmi of Newmark represented Niobrara Capital in the lease, while Tara Stacom, Peter Trivelas, Harry Blair and Remy Liebersohn of Cushman & Wakefield represented the owner. Cushman & Wakefield declined to comment; Newmark did not immediately respond to a request for comment.
Craig Deitelzweig, President and CEO of Marx Realty, commented in a statement on the continued leasing momentum at 545 Madison. He emphasised that the combination of this exceptional address in the Plaza District with a differentiated, hospitality-inspired experience exerts a strong appeal. He further explained that the building’s warm, club-like atmosphere, elegant design and distinctive Baccarat elements continue to resonate with leading firms seeking a workplace that feels sophisticated, elegant and unique.
This agreement is the first that Marx Realty has concluded since partnering with the luxury crystal manufacturer Baccarat. Baccarat had presented its collaboration at 545 Madison in 2025. Baccarat finishes are found throughout the 17-storey, 140,000-square-foot building. Several other private equity firms, including Kohlberg and Vialto Group, are also based at 545 Madison.
- —Niobrara Capital (Tenant): Represented by CJ Heitner and John Cilmi of Newmark.
- —Marx Realty (Owner): Represented by Tara Stacom, Peter Trivelas, Harry Blair and Remy Liebersohn of Cushman & Wakefield.
- —Building: 545 Madison Avenue (Baccarat Building), Midtown Manhattan.
- —Special Features: Hospitality-inspired design with Baccarat elements.
