Hunt Companies, a Texas-based privately-owned investor, developer and manager of real estate assets, yesterday signed a direct lease for Deutsche Bank‘s 20,643 square feet of office space at 230 Park Avenue, Commercial Observer has learned.
At the end of the year, the firm will relocate its Hunt Mortgage Group from 100 Church Street in Lower Manhattan to the entire 19th floor at the 34-story former Helmsley Building, which is between 45th and 46th Streets.
Hunt Mortgage Group, which until recently was Centerline Capital Group, works with developers, owners and investors to provide capital to develop, acquire or redevelop their real estate assets. The firm is one of a few agency lenders nationally with $10.4 billion of loans in its mortgage servicing portfolio.
CBRE‘s David Hollander and Chris Mansfield represented Hunt in the deal. Building owner Monday Properties was represented in-house by Jordan Berger, along with co-broker JLL’s Paul Glickman, Frank Doyle, Jonathan Fanuzzi, David Kleiner and Matthew Polhemus. Kenneth Siegel and Cynthia Wasserberger of JLL represented Deutsche.
“We were able to work out a three-party transaction whereby Deutsche Bank surrendered the floor so we could offer a direct lease to Hunt,” said Anthony Westreich, Chief Executive Officer of Monday Properties, in a prepared statement.
The asking rent was in the mid-$70s per square foot, according to a spokesman for Monday Properties. The lease is for six years, the amount of time remaining in Deutsche’s lease.