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Avison Young awarded leasing agency for 240 West 35th Street
August 24, 2022
Brokerage will spearhead leasing efforts for building in Penn Station submarket
NEW YORK, NY – Avison Young has been appointed as the exclusive leasing agent for 240 West 35th Street, a 165,000-square-foot (sf), seventeen story, fully-renovated office building centrally located within Manhattan’s bustling Penn Station neighborhood.
The Avison Young team will be led by Todd Korren, Principal, who will handle leasing efforts on behalf of building ownership, a partnership between The Migdal Group, one of Israel’s largest insurance and investment companies, and ATCO Properties.
“We’re thrilled to partner with Migdal and ATCO to spearhead the leasing initiatives for this prime building as its exclusive leasing agent,” said Korren. “The recent $20+ million renovation includes a complete façade restoration, modern entrance and lobby, upgraded elevators, updated HVAC and electrical systems, refreshed restrooms and thoughtfully constructed tenant spaces.”
“The floor plates range from 5,300 to 11,500-rsf which makes the building ideal for a variety of tenants due to its side-core floorplate configuration and offers maximum flexibility for tenants in virtually any industry,” added Korren.
Avison Young’s extensive understanding of the Penn Station submarket, strong recognition within the brokerage community and significant leasing success during the last 24 months aided in the owner’s decision. The firm will execute a targeted tenant outreach strategy built on the team’s leasing and asset management experience that will highlight the virtues of occupying space within the building to a broad audience of brokers and tenants.
“240 West 35th sits directly within most commuters’ sweet spots, providing a one stop commute and easy walking distance between Grand Central, Penn Station, and the Port Authority,” said Damon Hemmerdinger, co-President of ATCO Properties. “Given Avison Young’s track record with this asset class and their success through various market cycles, we’re confident in their success.”
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 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.