RKF Expands at 521 Fifth Avenue



RKF has signed a 20,987-square-foot lease expansion for the entire seventh floor at SL Green’s 521 Fifth Avenue, Commercial Observer has learned.

Robert Futterman, chairman and CEO of RKF, called the expansion “one of the many positive developments that RKF has going on today.”

521 Fifth Avenue. (Credit: SL Green)
521 Fifth Avenue. (Credit: SL Green)

The additional 4,581 square feet on the floor will allow the firm, which is expanding in various markets across the country and the world, to grow its New York brokerage team by as much as 25 percent and will accommodate an expanded marketing team.

“It’s fair to say that we’re expanding all over the map, and we will continue to attract the best and brightest professionals to our team,” Mr. Futterman said. “While our business has grown consistently over the past two decades, the momentum has measurably accelerated in recent months.”

Founded in New York City 16 years ago and known for its retail focus, RKF has expanded in a number of other markets. Last fall the firm struck a partnership with CWM Retail Property Advisors in London, England and this year the firm opened an office in Toronto, Canada. The firm’s northern New Jersey and Miami operations also recently moved into larger offices.

Mr. Futterman attributed the office expansions and the planned headcount increases to the “loyalty and continued business” of a client list that includes hundreds of household names, including Adidas, Barnes & Noble, GameStop, Jos. A. Bank, Ralph Lauren, Reebok and owner/developers Acadia Realty Trust, CIM GroupMuss DevelopmentThe Moinian Group and SL Green, to name just a few.

Scott Spector of Spector Group is designing the interior of the new office space, which RKF will occupy beginning in June. The firm has leased space since 2003 in the 39-story office building, which since then received a $25 million renovation that included a façade restoration and a new entrance.

Brad Gerla of CBRE represented RKF while SL Green handled the transaction in-house.

RKF declined to specify asking rents.