Cresa Arranges New York Flagship for Octave
Cresa’s Daniel Taormina, Vice President has arranged a 10-year lease at 286 Madison Avenue for Octave, a mental health and wellness practice that provides private and online psycho-therapy services, life coaching, and mindfulness classes, announces Peter Sabesan, Managing Principal.
“The principals at Octave had precise criteria for their first New York office, which contributed greatly to the success of our search,” says Taormina. “They needed a location that was convenient for their client base, which is a key reason why this building worked well.”
Located between 40th and 41st Streets, which borders Murray Hill, Grand Central and Penn Station areas, Octave has taken a 3,904-square-foot build-to-suit space for its New York flagship. In addition, Sabesan and Taormina are in the process of locating space in Flatiron for Octave’s second Manhattan center.
Adds Sandeep Acharya, CEO of Octave, “From the get-go, Dan understood the standards required for this kind of practice. We work primarily with business people who experience daily stress, so we needed a space that could be transformed into a safe haven.”
The 131,358-square-foot, 23-story office building is managed by APF Properties. Representing the landlord was Timothy Gibbs, Executive Managing Director, Newmark Knight Frank. The asking rent was $68 per-square-foot.