767 Third Avenue Nails Renewal, Direct Leases for 7,450 SF Each
Terence Cullen May 6, 2015, 6 p.m.
BRP Development Corporation and Brafman & Associates, a criminal defense law firm, have inked deals for 7,450 square feet each at 767 Third Avenue, Commercial Observer has learned.
The real estate firm, which specializes in mixed-use development, signed a five-year deal last week for the whole 33rd floor of the 40-story building between East 47th and East 48th Streets. Brafman & Associates, which has been in the building for 20 years, renewed its lease for the entire 26th floor for three years, according to landlord the William Kaufman Organization.
BRP Development was previously subleasing in the building, according to a spokeswoman for the William Kaufman Organization.
Meanwhile, Project TriForce, which makes replicas from video games, is moving into a portion of the 35th floor from its current Tribeca office at 12 Desbrosses Street. The company is taking 4,420 square feet in the seven-year lease.
Michael Lenchner of Sage Realty Corporation, the William Kaufman Organization’s leasing and management wing, represented the landlord in-house on all three lease deals. Avi Ben-Ishay of Norman Bobrow & Co. represented Project TriForce. Brafman & Associates and BRP did not have brokers in the deal, per the William Kaufman Organization spokeswoman. Mr. Ben-Ishay did not immediately respond to a request for comment.
Asking rents in the building were in the high-$60s per square foot, according to the William Kaufman Organization spokeswoman.
“Following a flurry of activity, our building at 767 Third Avenue is now nearly 100 percent occupied,” Mr. Lenchner said in prepared remarks. “It speaks volumes about the strength of our portfolio, the resurgence of the Third Avenue corridor and the desirability of our amenities and services.”