Demand for prime Park Avenue is so nice, one increasing monetary firm was keen to lease workplaces on two non-contiguous flooring – and to pay extra for the second.
After Munich Re purchased out its 320 Park Avenue associate Mutual of America late final 12 months to imagine 100% possession of the tower, as we first reported, the large insurer moved rapidly to lease the few remaining areas.
In late December, Monroe Capital signed for the complete, 15,000 square-foot 30th ground, shifting from 126 E. 56th St. The asking lease was $140 per sq. foot.
Now, Monroe has added one other, decrease ground at 320 Park Ave. Sources stated Monroe simply signed for an extra 15,000 sq. toes on the complete 21st ground, the place the ask was $170 per sq. foot.
“Demand on Park Avenue is so nice that corporations are keen to separate up their workplaces simply to have extra of them,” our supply marveled.
Savills’ Greg Taubin repped Monroe.
JLL’s Frank Doyle, Dave Kleiner and Carlee Palmer repped landlord Munich Re.
Keep forward of the curve with Enterprise Digital 24. Discover extra tales, subscribe to our e-newsletter, and be a part of our rising group at bdigit24.com
