590 Madison is achieving rents north of $190 per square foot — placing it among the highest-performing assets on the Plaza District corridor. Originally built in 1983 for IBM and renovated in 2016, the building carries institutional bones and a Midtown East address that continues to attract top-tier tenants. RXR acquired it for $1.08 billion, a transaction widely read as a signal of renewed conviction in New York office fundamentals. At roughly one million rentable square feet, the asset operates at a scale where capital deployment in amenities and common areas can move the needle on rent — and clearly has. The IBM Building is a useful case study in what repositioning, the right landlord, and a supply-constrained submarket can do to achievable rents.

Trophy is a branding and marketing agency for NYC office buildings. We work with landlords and ownership groups to build the leasing brand — the positioning, the visual identity, the story that makes a building worth what it's asking. $100 Foot Club is Or's field notes on the buildings already there. trophy.inc

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