101 Park Ave. Picture courtesy of Incline Fairness Companions
Personal fairness agency Incline Fairness Companions has signed a 18,000-square-foot lease at HJ Kalikow & Co.’s 101 Park Ave. workplace tower in Midtown Manhattan. JLL brokered the lease signing on behalf of the tenant, whereas Cushman & Wakefield represented the owner.
Headquartered in Pittsburgh, Incline Fairness Companions will double its footprint with the relocation from 505 Fifth Ave. to the forty sixth flooring of the 49-story iconic workplace constructing. Initially accomplished in 1982, the 1.3-million-square-foot , Class A property has been underneath HJ Kalikow’s possession since its build-out, serving because the agency’s headquarters as effectively.
In response to CommercialEdge, the LEED Gold-certified high-rise encompasses a 17,000-square-foot, two-story museum. The identical information supplier reveals that Morgan Lewis, Sandow Media, Gamma Actual Property, Federal Dwelling Mortgage Financial institution of New York and Morgan Stanley are among the many different tenants on the location.
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Encompassing 30,000 sq. ft of retail area, the property options an array of tenant facilities, together with Membership 101, a eating membership, enterprise and leisure venue, in addition to a company occasion area. Moreover, the workplace tower incorporates a financial institution and a full-service information stand, in addition to a five-story foyer entrance, an emergency generator, 24 passenger elevators and a four-bay loading dock and parking storage.
Midtown’s post-pandemic leasing traits
Positioned on the nook of fortieth Avenue and Park Avenue, the workplace constructing is in proximity of Grand Central Terminal. An array of eating locations, leisure venues and boutique storefronts are additionally close by.
A latest CommercialEdge report showcases the continuing tech downsizings within the Northeast, and in consequence, Manhattan’s November emptiness price reached 14.8 p.c, representing a 3.5 p.c enhance over the earlier 12 months.
JLL Vice Chairman Alexander Chudnoff, along with Associates Harrison Potter and Kate Roush represented the tenants within the lease signing. Government Vice Chairman John Cefaly and Managing Director Nicholas Dysenchuk at Cushman & Wakefield brokered the deal for the proprietor.
