One Park Avenue
T-Mobile will double its office space and move to 22,000 square feet at One Park Avenue by the end of the year. One Park is in special servicing, which is a precarious situation, as owner Norman Sturner didn’t miss payments but wanted to restructure payments on an approximately $360 million mortgage.
The phone company, which is currently at 665 Broadway, was lured by a concession package through special servicer Helios AMD.
Andrew Sachs, Andrew Peretz and Bill Levitsky of Cushman & Wakefield represented the tenant. Roxana Girand and Audrey Novoa represented the landlord, Murray Hill, in-house.
The asking rent was in the mid-$30s per square foot. The New York Post had news of the lease on June 15.
