Software Company Inks 10-Year Deal at 3 Park Avenue
By Al Barbarino October 15, 2013 7:30 am
reprintsCintra Software & Service Inc. has signed a 10-year, 8,424-square-foot lease on the 32nd floor of Cohen Brothers Realty‘s 3 Park Avenue.
The Oracle database and business service provider was drawn to the 42-story, orange brick building because of its convenient location and flexible floor plans, with plans to use the space for general and executive office space.
“The area around Grand Central is a well-situated and thriving area for office tenants,” said Alan Bonett of Adams & Co., who represented the tenant with Brad Cohn, in a statement announcing the deal. “3 Park Ave. is a great fit for Cintra Software as its spacious and flexible layouts support the growing software company.”
The announcement placed asking rents at $55 per square foot, and a memo appearing in The New York Times stated that the deal was cut at $60 per square foot.
Built in 1976 by Cohen Brothers, the 554-foot-tall building was designed by Shreve, Lamb and Harmon, the architecture firm behing the Empire State Building.
The first 11 floors of the 41-story building house Norman Thomas High School, and other tenants have included adMarketplace and JCDecaux North America, as well as a mix of engineering firms, including IEEE, AIChE and ASME, international advertising company Carat, The Seavey Organization, Dalton Management Company, Inner City Broadcast Holdings (WBLS/WLIB) and TransPerfect.
Cintra focuses on helping organizations navigate the “strategic, technological, and tactical complexities of database management,” according to the company’s mission statement.
Marc Horowitz of Cohen Brothers represented the landlord. The brokers did not respond to requests for comment in time for publication.
