Talent Partners has signed a 12-year, 32,250-square-foot lease for the entire second and third floors of Cohen Brothers Realty Corporation’s 475 Park Avenue South, Commercial Observer has learned. The tenant is expected to relocate from 115 West 18th Street later this year.
As previously reported, 475 Park Avenue South is undergoing a $40 million renovation. The three-year project, set to be completed this year, has included renovations to the building’s curtain wall, lobby, elevators, corridors and bathrooms.
“Attracting Talent Partners speaks volumes about the quality of our renovation and the desirability of the Park Avenue South corridor,” said Marc Horowitz, a senior vice president and director of office leasing at Cohen Brothers, in a prepared statement.
Mr. Horowitz represented the landlord in-house. Robert Tunis and Eric Ferriello of Colliers International represented the tenant. Asking rent for the deal was $55 per square foot.
Talent Partners offers specialty payroll services and counts 23 of the 25 largest U.S. advertising agencies as clients, according to the company. Last month, the Carlyle Group agreed to acquire a majority interest in the business.
The firm will join a tenant roster at 475 Park Avenue South that also includes Merchants Advance, Web Media, Corporate Counseling Associates and TD Bank.