Furniture Manufacturer Designs Lease Renewal at 125 Park Avenue
Lauren Elkies Schram July 13, 2015, 12:20 p.m.
Haworth, a global designer and manufacturer of furniture, interior architecture and technology solutions, has signed a 10-year lease renewal at SL Green Realty Corp.‘s 125 Park Avenue, Commercial Observer has learned.
The firm has occupied the 30,365-square-foot second floor in the 572,705-square-foot office building for eight years, according to JLL. Jim Wenk and Paul Formichelli of JLL represented Haworth in the deal and SL Green was represented in-house by Brett Herschenfeld and Cryder Bancroft.
Asking rents in the 30-story building, which is between East 41st and East 42nd Streets and also known as the Pershing Square Building , are in the $70s per square foot, Mr. Wenk said via a JLL spokesman.
“Haworth’s lease was set to expire and company executives preferred to remain at 125 Park Avenue,” Mr. Wenk said in prepared remarks. “Although we explored other options for the company, SL Green was very accommodating with the different concepts Haworth was considering for its space. The building owner’s flexibility was key to Haworth ultimately remaining in the same envelope of space.”
Other tenants in the building include Newmark Grubb Knight Frank, Meister Seelig & Fein, Pandora and Blink Fitness.
SL Green bought the building in August 2010 for $330 million, property records indicate.