Manhattan-based Peter Pennoyer Architects, the firm behind the Colony Club and the Knickerbocker Club in Manhattan and the prestigious Hotchkiss School in Connecticut, has invested in its own space by doubling its size with a move to the 150,000-square-foot 136 Madison Avenue.
The company will move from its 9,000-square-foot office at 432 Park Avenue South between East 29th and East 30th Streets to the building at East 32nd Street and will now occupy 18,634 square feet on the entire 11th floor, according to the New York Post, which first reported the deal.
“We’re very excited to stay in the neighborhood,” said Mr. Pennoyer, the principal of his eponymous firm. “The old loft buildings make great offices for architects. It’s great to be close to some of the landmarks.”
David Rosenbloom and Emily Weber of Cushman &Wakefield represented Peter Pennoyer. Andy Roos of Colliers International represented the families, the Cohens, Rooses and Carmels, that own the properties.
“Enjoying increasing success, the team at Peter Pennoyer Architects was confronted with a classic ‘good problem:’ they had outgrown their existing quarters, but their lease kept them tethered there,” said Mr. Rosenbloom in prepared remarks. “Now, not only are they moving into a superb new location, but we also orchestrated the most gracious exit possible from their prior location.”
In a press release, Mr. Roos said that “With its museum-like lobby and close proximity to major attractions such as the Empire State Building, Grand Central, and Penn Station, 136 Madison Avenue has become a destination of choice among tech and other creative firms looking for a prime location, with an uptick of activity on all floors.”
The asking rent was $50 per square foot, the Post noted.