PRESS RELEASE: Avison Young Named Exclusive Leasing Agent for Brause Realty's 21 West 38th Street

PRESS RELEASE: Avison Young Named Exclusive Leasing Agent for Brause Realty's 21 West 38th Street 16 Nov 2020

Team overseen by Todd Korren offering numerous opportunities in the Midtown office property

New York – Avison Young’s New York office has been named the exclusive leasing agent for 21 West 38th Street, an 80,000-square foot, 17-floor office building located off Fifth Avenue near Bryant Park.

An Avison Young team led by Todd Korren, Principal, along with Associates Matthew Pynn and Rachel Rosenfeld, will handle leasing efforts on behalf of the building’s owner, Brause Realty Inc.

At 21 West 38th Street, Brause Realty Inc. is dedicated to prioritizing the health and wellness of its tenants in the COVID-19 environment by offering features that include full floor spaces; private bathrooms; dedicated, tenant-controlled HVAC systems; and self-cleaning elevator buttons which utilize NanoSeptic technology.

“The virtually column free floors at 21 West 38th Street have operable windows on three sides and are ideal for a variety of safety-conscious tenants seeking a full floor presence, including those in the TAMI sector, innovation and design, and professional services,” said Korren.  “Amazon recently purchased Lord & Taylor’s flagship building on the corner of West 38th Street and Fifth Avenue, a clear indication that the tech sector is aggressively moving into this area which bodes well for 21 West 38th Street’s leasing prospects.”  

Avison Young’s long-standing relationship with the building’s ownership and extensive experience with this asset class, combined with a track record of success throughout various market cycles, served the firm well in securing this coveted assignment.

21 West 38th Street sits in the middle of Manhattan’s “Commuter Triangle” putting it within easy walking distance to Grand Central Terminal, Penn Station, the Port Authority Bus Terminal, as well as multiple subway lines.  Nearby popular attractions include The New York Public Library, Bryant Park and many hotels and restaurants.

Founded in 1927, Brause Realty Inc. is a family-owned company specializing in the long-term ownership, management and development of high-quality, well-located commercial real estate assets. Brause Realty owns and manages a portfolio of approximately three million square feet in the New York region, including: 52 Vanderbilt Avenue, 320 Fifth Avenue, 41 Union Square, 254 West 31st Street, 141 West 36th Street and 21 West 38th Street in New York City; One MetLife Plaza and The Forge in Long Island City, NY; and Congress Park Centre in Saratoga Springs, NY. See www.BrauseRealty.com for more information.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

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