Return Path to Relocate in Midtown South
Gus Delaporte July 3, 2013, 11 a.m.
Digital analytics company Return Path Inc. has signed an 11-year, 23,280-square-foot lease for the entire 41st floor at Charles Cohen’s 3 Park Avenue, it was announced today. Asking rent was in the mid-$60s per square foot.
“This deal clearly demonstrates the strong attraction of prime top-floor office space,” said Mr. Cohen, who also runs Cohen Media Group, a distributor and producer of foreign and independent films, in a prepared statement. “The views, amenities and access to transit at 3 Park Avenue are second to none.”
Return Path is expected to relocate from 304 Park Avenue South to 3 Park Avenue’s penthouse, which includes 14 corner offices, by the end of this year. The digital analytics company, which was founded in 2009 and operates 12 offices worldwide, helps businesses and mailbox providers enhance network performance.
Cohen Brothers Realty owns and manages a number of commercial properties across the country. In addition to 3 Park Avenue, the firm’s Manhattan portfolio also includes 623 Fifth Avenue, 750 Lexington Avenue and 475 Park Avenue South.
Ira Rovitz of Newmark Grubb Knight Frank represented the tenant in the transaction. Bruce Mosler, Charles Borrock and David Glassman of Cushman & Wakefield, the building’s exclusive agent, represented the landlord alongside Marc Horowitz of Cohen Brothers Realty Corp.
Mr. Horowitz did not immediately return requests for comment.