St. Giles School will be expanding its operations in the city, The Commercial Observer has learned.
The Catholic educational institute sponsored by St. Giles Parish will be taking over King’s College’s 11,880-square-foot eighth floor at 330 Fifth Avenue. The lease will essentially double St. Giles School’s occupancy in the building and the school has plans to add a staircase to connect the sublease to their seventh floor space.
The sublease is part of a greater real estate shuffle for King’s College. The college initially inked a 10-year deal at 330 Fifth Avenue in 2008 when it was looking for a space close to its main 50,000-square-foot operation at the adjacent Empire State Building. However, the school has since boarded up and moved to the Wall Street area.
Steven Blair Strati, a Cushman & Wakefield broker on the deal, noted that the move downtown rendered the college’s space in 330 Fifth Avenue as overflow and was subsequently disposed.
Mr. Strati was joined by his colleague Mark Lauzon in representing King’s College on the deal. Another Cushman & Wakefield broker, Thomas Kaufman, represented St. Giles in the transaction.