Lease Beat

Coral Reef Fund Migrates to Rock Center

45 Rockefeller Plaza

Worldwide energy investment company the Coral Reef Fund has relocated its headquarters roughly five blocks west to Tishman Speyer‘s 45 Rockefeller PlazaCommercial Observer has learned.

The company, which invests in oil, gas and other natural resources, moved last month from a smaller space at 757 Third Avenue by signing a 4,940-square-foot lease for a suite on the 23rd floor in the property that’s also known as the International Building and 630 Fifth Avenue, officials with Colliers International said. The space commanded an asking rent of $72 per square foot, they noted. Read More

Lease Beat

CVS Takes 12K SF at RFR Building on East 47th Street

757 Third Avenue.

Pharmacy chain CVS Health has signed a lease for more than 12,000 square feet at RFR Realty‘s 757 Third Avenue between East 47th and East 48th Streets, Commercial Observer has learned.

The retailer took 12,204 square feet on the ground-floor corner and basement of the building. The space was previously occupied by Wells Fargo Bank and RCN, RFR said. The new CVS lease required both a temporary and permanent relocation of RCN, which will temporarily move to RFR’s 275 Madison Avenue until its permanent location is ready for occupancy. Read More

Lease Beat

Financial Firm to Relocate in Midtown East

757 Third Avenue

Investment management firm Alternative Investment Management will move three blocks south next year through a 10-year, 8,123-square-foot lease for a portion of the 12th floor in RFR Realty’s 757 Third Avenue, Commercial Observer has learned.

The privately-held financial firm currently operates out of space at 830 Third Avenue, but it will relocate to the Emery Roth & Sons-designed tower between East 47th and East 48th Streets, where asking rents run in the mid-$60s per square foot, RFR officials said. Read More

Lease Beat

Berkley Insurance Expands at 757 Third Avenue

757 Third Avenue.

Berkley Insurance Company has expanded its presence at RFR Realty’s 757 Third Avenue by 5,080 square feet, Commercial Observer has learned.

The tenant, a principal reinsurance subsidiary of the W.R. Berkley insurance firm, now occupies a total of 42,533 square feet on the 10th and 11th floors of the building. Previously, the company had consolidated its Midtown and Downtown offices into 37,452 square feet at 757 Third Avenue. Read More

Lease Beat

Marine Insurer Relocating on Third Avenue

757 Third Avenue.

The North American office of Oslo-based marine insurer Skuld will relocate to 757 Third Avenue from 805 Third Avenue, Commercial Observer has learned. The company has signed a 10-year lease for the entire 6,961-square-foot 25th floor of the RFR Realty-owned building.

The deal continues a brisk leasing pace at 757 Third Avenue, where Berkley Insurance Company, Laura Pomerantz Real Estate and Grant Thornton have all recently signed deals. Read More

Lease Beat

Magazine Trade Group Relocating to 757 Third Avenue

757 Third Avenue.

MPA-The Association of Magazine Media has signed a 10-year, 12,199-square-foot lease at RFR Realty’s 757 Third Avenue, The Commercial Observer has learned.

The tenant will pay rent starting in the mid-$50s per square foot, according to data from CompStak. MPA, currently headquartered at 810 Seventh Avenue, will relocate in February when its current lease expires, according to a spokesperson who confirmed the deal. Read More

Lease Beat

Epiq Bankruptcy Leads Trio of New Leases at 757 Third Avenue

757 Third Avenue.

Epiq Bankruptcy Solutions, a case management and consulting firm specializing in Chapter 11 cases, has signed a 28,036-square-foot lease on the third and seventh floors of 757 Third Avenue, the largest of three recently announced leases at the RFR Realty property. Asking rents in the building range from the low $50s to low $60s per square foot.

Additionally, real estate developer Omni Development and Astoria Federal Savings and Loan Association have signed lease for 5,700 square feet and 5,284 square feet, respectively.

“The RFR team works tirelessly to provide an unsurpassed office environment for our tenants – from the upscale building amenities and thoughtfully crafted interiors to the assiduous attention to architectural detail,” said Aby Rosen, co-Founder and principal of RFR, in a statement. “The recent leases at 757 Third Avenue are further testament to the quality of our portfolio and attention to tenant services.” Read More

Lease Beat

Sister Companies Expand at 757 Third Avenue

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Sister companies Aerotek and TEKsystems have signed 10-year leases for 13,551 square feet and 15,115 square feet, respectively, at RFR Realty’s 757 Third Avenue, it was announced today. Asking rents at the property range from the low $50s to low $60s per square foot and the total value of the transaction is over $16 million, according to a press release.

“The RFR team always works hard to provide the best services and amenities that attract and retain the best quality tenants,” said Aby Rosen, co-founder and principal at RFR, in a prepared statement. “That’s the secret of our success here and throughout the RFR portfolio.” Read More

Lease Beat

Epiq Systems to Ink 100,000 SF Deal

685 Third Ave_opt

Technology firm Epiq Systems is on the brink of signing a lease for roughly 100,000 square feet of office space at 685 Third AvenueThe Commercial Observer has learned.

A source familiar with the deal said it was slated to close towards the end of last week, but the deal had not closed by press time.

“A couple more days,” the source said. Read More

Building Expectations

Aby Rosen's Hidden Jewel

6 Photos

757 Third

From the moment you walk through the doors of 757 Third Avenue, you know the building is different from the average, anonymous East Side office tower.

One of the lesser works of the monolithic Emery Roth & Sons—they of GM and Look and Pan Am buildings fame—757 Third is the typical wedding-cake office building. A banded obsidian glass curtain wall with those I-beam mullions, it is the sentinel we’ve seen before, cast ever so slightly anew in a thousand business districts the world over. Seagrams lite with a splash of Chase Manhattan.

That is why walking into, or really out of, 757 Third is such a dramatic experience. The 28-story building may have the nicest revolving doors in the entire city. Set into two curving, scythelike glass panels, the building’s egress does not really have an edge, and so when stepping out onto the street through those spinning doors, it is as though the building suddenly disappears. You have left the warm confines of this sleek building and are back on the cold New York City street. You might even stop to gasp at the trick if the door were not coming up behind you, about to deliver a smack in the toosh. Read More

Lease Beat

European Union Seeks Midtown Space

666 Third Avenue.

The European Union is poking around midtown’s east side for space and is in talks to do a roughly 50,000 square foot deal at 666 Third Avenue, several sources told The Commercial Observer.

The lease at 666 Third Avenue is not yet done, but a person close to the EU said the organization is considering two floors at the building. Read More