Niobrara Capital, a private equity firm focused on tech companies across the U.S. and Europe, has signed an 11,000-square-foot lease on the entire ninth floor of Marx Realty’s 545 Madison Avenue, also known as the Baccarat Building.

The length of the lease was not disclosed. The asking rent was $145 per square foot, according to Marx Realty. 

It’s unclear whether the deal represents a new location or a relocation for Niobrara, which lists an office about four blocks away at 345 Park Avenue on its website.

Newmark’s CJ Heitner and John Cilmi represented Niobrara Capital in the lease, while Cushman & Wakefield’s Tara Stacom, Peter Trivelas, Harry Blair and Remy Liebersohn represented the owner. 

C&W declined to comment, while Newmark did not immediately respond to a request for comment. 

“The continued leasing momentum at 545 Madison speaks to the power of pairing this exceptional Plaza District address with a truly differentiated hospitality-infused experience,” Craig Deitelzweig, president and CEO of Marx Realty, said in a statement. “The building’s warm, club-like sensibility, refined design and unmistakable Baccarat touches continue to resonate with premier firms looking for a workplace that feels elevated, elegant and distinctive.”

The deal represents Marx Realty’s first lease signed after partnering with luxury crystal manufacturer Baccarat, which unveiled its collaboration at 545 Madison in 2025. There are Baccarat enhancements throughout the 17-story, 140,000-square-foot building.

Several other private equity firms call 545 Madison home, including Kohlberg and Vialto Group.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.  

Keywords: 545 Madison Avenue, CJ Heitner, Craig Deitelzweig, Harry Blair, John Cilmi, Peter Trivelas, Remy Liebersohn, Tara Stacom, Cushman & Wakefield, Marx Realty, Newmark, Niobrara Capital