C&W Loses Brokers But Retains Agency at 535-545 Fifth Ave.
By Gus Delaporte September 16, 2013 1:00 pm
reprintsLast month, Cushman & Wakefield (CWK) lost broker Andrew Sachs to Newmark (NMRK) Grubb Knight Frank in what could have been a blow to the firm’s leasing assignment at The Moinian Group’s 535-545 Fifth Avenue. After careful consideration, however, the landlord elected to stick with C&W and Bruce Mosler will lead a new leasing team at the East Midtown building.
“We are sorry to see the old team go,” said Gregg Weisser of the Moinian Group. “We certainly had an opportunity to look at other teams and other companies and we did that but there’s something to be said for feeling comfortable with the people you work with, C&W does that for us.”
The early focus of the C&W leasing team’s renewed efforts have been on three available tower floors of 5,000 square feet each at 535 Fifth Avenue.
“These floors give somebody the opportunity to have an extraordinary amount of privacy,” Mr. Mosler, chairman of global brokerage, told The Commercial Observer. “Also, its statement type space which we expect to move quite quickly.”
Prime location and recent renovations are just some of the selling points for the Moinian Group asset. The sister properties at 535-545 Fifth Avenue sit just two blocks from Grand Central Terminal and the buildings’ lobbies have been repositioned in the recent years by Gensler, the global architecture firm.
With asking rents for the tower floors in the mid-$50s per square foot, Mr. Mosler indicated he and his team are actively pursuing tenants. “We’re in deal making mode,” he said.
Mr. Mosler will lead the C&W leasing team that also includes Mitch Arkin, Myles Fennon, Haley Klein, Remy Liebersohn and Adam Nelson.
