Smaller Tenants Snap Up Space in Monday’s 230 Park
Laura Kusisto Oct. 28, 2010, 4:19 p.m.
230 Park Avenue
It’s a small tenant’s world after all, as even giant 230 Park Avenue is on a roll with diminutive deals.
The country’s largest landlord, Simon Properties, recently inked a 12,000-square-foot lease in the 1.4 million-square-foot Helmsley Building. But Brian Robin, of landlord Monday Properties, told The Commercial Observer at the time that more smaller tenants were snapping up space.
To wit, six companies have signed deals in the building, totaling 23,600 square feet. “Two-thirty Park Avenue is the perfect home for boutique and large firms alike,” said Mr. Robin. Indeed the building, with pristine views of Park Avenue and an equally shiny LEED Gold certification, seems destined to capture hearts big and small.
Tenants that have renewed in the building include investment bank Allegiance Capital Corporation, which has expanded in the building to 5,051 square feet on the fifth floor. It was represented by Edward DiTolla and John Ryan of Jones Lang LaSalle.
Boutique firm PBS Real Estate has also renewed its 8,044-square-foot lease on the 18th floor. The firm was represented in-house by its founder, John Brod.
Meanwhile, one of the building’s largest tenants is also expanding. Satterlee Stephens Burke & Burke has grabbed an additional 2,300 square feet on the 11th floor, shortly after inking a 15-year renewal for its 49,000-square-foot space in the building. The law firm was represented by Martin Horner, Joseph Pollaci and Drew Saunders of Jones Lang LaSalle.
All of the leases were for five to 15 years. Asking rents in the building are in the mid-$60s. Jordan Berger of Monday Properties and Paul Amrich of CB Richard Ellis represented the landlord.