Lease Beat

Merchant Cash and Capital Expands 9K

Courtesy of SkyScraperNet

Courtesy of SkyScraperNet

Merchant Cash and Capital has expanded their occupancy on Park Avenue South.

The traditional small business loan provider has called 450/460 Park Avenue home for the past seven years and will continue in expanding to 22,400 square feet. Just last year, the company added 6,900 square feet to their lease and now will add an additional 9,000 square feet.

The lease deal required some shifting and Merchant Cash and Capital will be leaving their space on the south side of the 11th floor and be moving to occupy the entire 10th floor. The firm will be on the 6th floor as well.

“Our prime location in a vibrant section of Midtown has attracted a mix of top tenants,” said Jovani Rampersad, commercial leasing director for the Moinian Group. “Merchant Cash and Capital has been a long-time tenant of ours, and we are fortunate to have been able to accommodate its growing business within the building.”

Ms. Rampersad represented the landlord, the Moinian Group, and Ira Rovitz, a broker from Newmark Grubb Knight Frank, represented the tenant on the transaction. The lease makes Merchant Cash and Capital the second largest tenant in the 12-story 180,000 square foot building.

“In a flurry of leasing this year at 450/460 Park Avenue South, we are pleased to announce that the building is now 100 percent leased,” Ms. Rampersad further noted. OfficeLinks, an on-demand office space and meeting facility provider, recently took 14,000 square feet in the building.

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