The company inked a deal for 23,000 square feet, or the whole sixth floor, at the 34-story building, according to Co-Founder Juda Srour. Asking rent in the deal was $50 per square foot, he added but declined to provide the length of the lease.
Jay Suites is expected to take the new space on March 1, Mr. Srour told Commercial Observer. The company currently leases space on the third and fifth floors of the 460,730-square-foot structure.
Mr. Srour and his brother, Jack Srour, also a co-founder and the chief financial officer, first signed up at the building in 2012, according to CoStar. Jay Suites initially inked a 21,711-square-foot deal on the fifth floor. A year later, the company expanded and signed a lease for an additional 22,000 square feet on the third floor.
Richard Doolittle of MHP Real Estate Services represented both Jay Suites and the landlord, LH Charney & Associates, according to The Real Deal, which first reported news of the lease. A representative for MHP did not immediately return a call for comment.