King & Grove has inked a deal for its headquarters in New York, The Commercial Observer has learned.
The hospitality group will be relocating from its current space at 512 Seventh Avenue and taking a 5,284-square-foot office at the Blackstone (BX) LP– and Equity Office Properties-owned 1140 Avenue of the Americas. The space spans a portion of the 15th floor.
King & Grove is known for their boutique hotels that mix modern luxury with eclectic influences. The company offers rooms and hotels in select cities like New York City, Miami and Montauk. The location in Montauk, for example, takes its decoration direction from a nautical summer camp, set on the lakeside with paddle boarding, yoga, and related leisure activities.
The tenant was represented by Robert Martin, Brad Line and Matt Felice of Jones Lang LaSalle. The landlord was also represented by a team from Jones Lang LaSalle consisting of Douglas Neye and David Wassel, and in-house leasing manager Jessica Kanfer.
“The success of our leasing efforts at 1140 Avenue of the Americas demonstrates the strength of the Bryant Park submarket and the impact a modern building with state-of-the-art infrastructure can have in Manhattan,” said Mr. Neye.
King & Grove was one of many firms to ink at 1140 Avenue of the Americas in the past few weeks. Other tenants include Starwood Property Trust, which signed a deal for the entire, 12,750-square-foot fifth floor. CityMD also took a 12,750-square-foot space when it relocated from its New York headquarters.
In total, Jones Lang LaSalle has brokered more than 130,000 square feet in transactions over the past 18 months since the building was purchased in 2011.