News - New York
Avison Young arranges new 9,306-square-foot lease at 12 Penn Plaza for PolyNovember 10, 2021
New York, NY – Avison Young’s New York office announced today that it has arranged a new 9,306-square-foot (sf) lease on behalf of ownership at 12 Penn Plaza. The tenant, Santa Cruz-based telecommunications company Poly, inked a 10-year deal for the entire fifth and sixth floors of the boutique office building, which includes access to a 3,200-sf private roof deck.
Avison Young Senior Director Brooks Hauf, Director Peter Johnson and Client Services Coordinator Leah Zafra represented the landlord, Churchill Real Estate Holdings, as the exclusive leasing agents for the building. Poly. was represented by Cale Miller with Hughes Marino and Michael Herz of Vicus Partners.
“This latest lease at 12 Penn Plaza represents the steadfast commitment of tenants to the Penn Station submarket, as the area provides a central Manhattan location near one of the city’s largest transit hubs,” said Hauf. “We anticipate demand for the area will continue given the revitalization of the neighborhood that is currently underway.”
Built in 2019, 12 Penn Plaza is a boutique office building located on 34th Street between Seventh and Eighth Avenues with adjacent access to Penn Station. The building offers 4,653 rsf of boutique, full floors on the second through penthouse level with pre-built and built-to-suit opportunities. The second through fourth floors are currently available for occupancy, with the second floor including 2,500-sf of private outdoor space.
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 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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