Exclusive: ING Grows to 220,000 square feet at 230 Park Avenue
By Daniel Edward Rosen April 3, 2012 8:30 amreprints
ING Investment Management International, a division of the Dutch-based ING Group, signed a 10-year lease for 10,500 square feet at 230 Park Avenue, The Commercial Observer has learned.
The deal increases ING’s presence at 230 Park Avenue to 220,000 square feet in the Monday Properties-owned office tower, the company said in a press release sent to The Commercial Observer.
Chris Mongeluzo and Moshe Sukenik of Newmark Knight Frank represented ING in the deal. Jordan Berger of Monday Properties represented the firm in-house.
Mr. Sukenik declined comment. Phone calls to Mr. Mongeluzo and Mr. Berger were not returned. Asking rents were in the high $60s.
In a statement, Monday Properties Chief Operating Officer Brian Robin said “We look forward to another business unit of ING locating its New York operations at 230 Park Avenue.”
“This latest transaction reflects our focus on the operational priorities of ING and the results of continuous improvements to the building,” he added.
230 Park Avenue, formerly known as the Helmsley Building, has been a popular destination for The ING Group and its North American branches. The company signed a 9,600 square foot lease in 2009, increasing its total square foot tally to 200,000 square feet at the time.
It was also around that time the 1.4 million square foot property went through a $50 million restoration project, refurbishing the 1929 building by refinishing the exterior limestone, restoring the cupola and sprucing up pedestrian arcades, the company said at the time.
The building is the first pre-war office building to achieve LEED GOLD Certification, according to its website.