Berkley Insurance Expands at 757 Third Avenue
By Gus Delaporte April 23, 2014 11:00 am
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Berkley Insurance Company has expanded its presence at RFR Realty’s 757 Third Avenue by 5,080 square feet, Commercial Observer has learned.
The tenant, a principal reinsurance subsidiary of the W.R. Berkley insurance firm, now occupies a total of 42,533 square feet on the 10th and 11th floors of the building. Previously, the company had consolidated its Midtown and Downtown offices into 37,452 square feet at 757 Third Avenue.
“Tenants have recognized the central location and capital improvements at 757 Third Avenue,” said Steve Morrows, director of leasing at RFR, in a prepared statement. “757 Third has distinguished itself as a leader in the Grand Central submarket, as evidenced by the leasing velocity we’ve achieved there. We’re thrilled that Berkley Insurance decided to expand in the building.”
RFR, which acquired 757 Third Avenue in 1999, began a thorough repositioning of the building in 2012. Upgrades have included the addition of a new lobby with a rotating art program, elevator cab improvements and new common corridors. The landlord also refinished the building’s façade, installed new retail store fronts and upgraded the building systems.
Mr. Morrows represented the landlord in-house alongside a leasing team from JLL (JLL) led by Mitchell Konsker and Alexander Chudnoff. The tenant was represented by Christopher Kraus, Brian Higgins and Reid Longley, also of JLL, and Belinda Scanlon of Bernard Realty.
