PRESS RELEASE: Avison Young Arranges Lease for Urban Resource Institute at 211 East 43rd Street
September 8, 2020Avison Young represents building owner in 6,886-square-foot lease for non-profit organization dedicated to supporting victims of domestic violence
New York, NY – The New York City office of Avison Young arranged a five-year, 6,886-square-foot lease for Urban Resource Institute at 211 East 43rd Street, an office building located in the Midtown East neighborhood of Manhattan between Second and Third Avenues.
An Avison Young team led by Principal John D. Ryan III represented the building owner, a partnership between Alchemy-ABR Investment Partners and Clarion Partners, LLC, in the transaction. Avison Young serves as the exclusive leasing agent for the entire 211 East 43rd Street property.
Urban Resource Institute, a non-profit organization providing compassionate service to victims of domestic violence, is expanding their service offering to open a new location for their clients. The space at 211 East 43rd will serve as training for the organization’s clients and as part of the lease, the building owner is renovating the space with a customized installation that supports their important mission. The tenant was represented by Rob Sattler with CRESA in the negotiations.
“Avison Young was able to negotiate this transaction during the peak of the COVID-19 pandemic,” Ryan notes. “We quickly mobilized to provide remote access for Urban Resource Institute to tour the space and interactively designed their required changes for construction. The landlord fast-tracked its internal processes to ensure a speedy lease execution and even made a temporary space available, if needed, while their premises is being retrofitted. The consummation of this transaction demonstrates that even in this challenging office leasing environment, deals can still be completed in a timely fashion.”
“Ownership is pleased to welcome Urban Resources Group to 211 East 43rd Street and commends our leasing team at Avison Young for persevering and completing the transaction in a difficult market,” said Brian Ray, Managing Partner of Alchemy-ABR Investment Partners, on behalf of Ownership. “Given the current unique leasing environment, all those involved worked swiftly and collaboratively to create an exciting, long-term solution. This transaction reinforces our long-term belief in New York City as the business capital of the world and companies strong desire to do business here.”
The conveniently located 211 East 43rd Street is just steps away from Grand Central Station and the United Nations building and situated near a wide variety of dining options. The property has been substantially repositioned including lobby and façade enhancements and upgrades to the sprinkler, fire and life safety systems, elevator cabs, mechanical improvements, and new windows. The building includes a tenant-friendly, pre-built program for full and partial floors and appeals to a wide variety of traditional and TAMI tenants seeking open, light-filled space in an exceptional location. At present, pre-built spaces ranging from 2,000 to 6,000 square feet are available, including two units with 3,200 square feet of outdoor terrace space.Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors. www.avisonyoung.com
About Urban Resource Institute
Urban Resource Institute’s mission is to provide quality, compassionate and innovative client-centered services to victims of domestic violence and other vulnerable populations so that they may lead the safest and fullest lives possible. More information is available at https://urinyc.org/.
About Alchemy-ABR Investment Partners
Alchemy-ABR Investment Partners is a fully integrated real estate investment, development and operating company formed in 2015 as a partnership between Alchemy Properties and ABR Partners, led by Brian Ray, Kenneth Horn, Joel Breitkopf and Alex Saltzman. Based in New York City, Alchemy-ABR acquires, develops and repositions unique cash flowing properties in the New York metropolitan area, South Florida and other select gateway markets. Alchemy-ABR recently acquired 4200-4400 Northcorp Parkway, a 115,000 square foot office building in Palm Beach Gardens, The Atrium at Broken Sound, a 100,000 square foot office building in Boca Raton, 211 East 43rd Street, a 210,000 square foot office building in Manhattan, and the Bedford Playhouse in Bedford, NY. For more information, please visit www.alchemy-properties.com.
About Clarion Partners
Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 38 years. Headquartered in New York, the firm has offices in major markets throughout the U.S. and Europe. With $56.3 billion in total assets under management, Clarion Partners offers a broad range of both debt and equity real estate strategies across the risk/return spectrum to its more than 400 domestic and international institutional investors. More information is available at www.clarionpartners.com.
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