Oil Shipper Renews at Fisher Brothers’ 299 Park Avenue
Gener8 Maritime, an oil shipping company that boasts a 46-vessel fleet, has signed an early renewal for its full-floor lease at 299 Park Avenue for five years, Commercial Observer has learned.
The company will remain in its 28,326 square feet, or the second floor, of the 42-story building between East 48th and East 49th Streets, according to landlord Fisher Brothers.
Gener8 Maritime originally inked a deal at 299 Park Avenue in 2004, according to Fisher Brothers. That deal ran through 2020, according to CoStar. The renewal runs through 2025.
Glenn Isaacson and Jared Isaacson of CBRE represented the tenant, while Marc Packman and Jessica Kanfer of Fisher Brothers represented the landlord in-house.
Asking rent in the 1.2-million-square-foot building ranges from the low-$90s to $135 per square foot, according to a source familiar with the building.
The Midtown East building is also home to offices for UBS, Capital One, GE Capital and the Consulate General of Japan.
“The Plaza District, and 299 Park Avenue in particular, has served as the headquarters for many of the world’s most successful businesses and Gener8 Maritime is no exception,” Kenneth Fisher, a partner at Fisher Brothers, said in prepared remarks. “We are thrilled to be able to extend our relationship well into the coming decade.”