Galbreath to lease manage 555 Madison - retained to redevelop property in New York, New York

Real Estate Weekly, August 19, 1992

The Galbreath Company has been retained by the Rodney Company to redevelop 555 Madison Avenue as well as to serve as exclusive leasing and management agent for the building. The 32-story tower contains more than 400,000 square feet of office and retail space. Peter Ricker, president of Galbreath, made the announcement.

Phil Restifo, Galbreath senior managing director,is head of the project team.

Located on the southeast corner of Madison Avenue and 56th Street, 555 Madison Avenue is directly across the street from the former AT&T Building, soon to become the headquarters of Sony U.S.A.

Redevelopment plans for the site include substantial upgrades to the building's HVAC, and mechanical and electrical systems as well as lobby and exterior improvements. Specific details are not yet available.

Completed in 1961, 555 Madison Avenue was designed by architects John M. Kokkis and Morris Lapidus. The Rodney Company acquired the building in 1963.