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PRESS RELEASE: Avison Young announces seven office lease transactions totaling nearly 28,000 SF17 Mar 2021
Deals include seven leases in Manhattan and one in Westbury
New York, NY – Avison Young’s New York office announced seven office leasing transactions totaling nearly 28,000 square feet, which were comprised of five new leases and, one lease renewal in Manhattan, and one lease renewal in Westbury, Long Island.
Avison Young teams led by Todd Korren, Principal, arranged the transactions.
“We are pleased to announce this flurry of office lease transactions throughout New York City and Long Island,” noted Korren. “It remains a challenging time for the regional office market, but closing these latest transactions is an encouraging sign for the sector and proof that businesses in a variety of industries are still interested in leasing well-located, quality office space. Our knowledge of the tri-state New York commercial real estate market and ability to analyze current market conditions and forecast future trends allowed us to provide the guidance our clients needed throughout the deal process."
The transactions include:
- A 3,250-square-foot new office lease for real estate investment firm Liberty Re Properties on the Penthouse floor of 1140 Avenue of the Americas in Midtown Manhattan. Korren represented landlord NYC REIT in the transaction.
- An 8,293-square-foot new office lease for recruiting firm LHi Group on the 14th floor of 123 William Street located in Manhattan's Financial District. Korren represented landlord NYC REIT in the transaction.
- A 2,667-square-foot new office lease for law firm Lavietis & Solowitz on the 15th floor of 123 William Street located in Manhattan's Financial District. Korren represented landlord NYC REIT in the transaction.
- A 7,500-square-foot new office sublease for Bold, a public relations firm, on the 4th floor of 450 Park Avenue South in Manhattan's Midtown East neighborhood. Korren represented sub-landlord Roku in the transaction.
- ·A 2,700-square-foot new office lease for A L Diamond, a homeware showroom, on the 3rd floor of 28 West 36th Street in Midtown Manhattan. Korren along with Associates Matt Pynn and Rachel Rosenfeld represented the landlord, an affiliate of Rose & Berg Realty.
- A 2,183-square-foot office lease renewal for Rutter Associates on the 28th floor of One Grand Central Place in the Grand Central neighborhood of Manhattan. Korren and Director Albert Wu represented the tenant in the transaction.
- A 1,325-square-foot office lease renewal for attorney James Green on the 3rd floor of 900 Merchants Concourse in Westbury, New York. Korren, along with Ted Stratigos, Principal and Managing Director of the Long Island Office and Amanda Gorozdi, Senior Associate, represented the landlord, an affiliate of Hornig Capital Partners and Vectra Management.
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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