Contracting Firm Taking Penthouse in Midtown ASM Realty Building
Liam La Guerre March 2, 2016, 3:25 p.m.
Integral Contracting has inked a 5,000-square-foot lease to relocate to 36 West 37th Street between Avenue of the Americas and Fifth Avenue, Commercial Observer has learned.
The general contractor, which specializes in high-end hospitality and commercial construction in New York CITY, signed a 10-year deal to occupy the entire penthouse level of the 10-story office and retail property, which is owned by ASM Realty. The transaction was off-market and the taking rent for the space was in the mid-$30s per square foot, according to Joe Friedman of MHP Real Estate Services, who represented the tenant.
“It’s a built space with glass offices on the top floor of the building, and at that price it made sense,” Mr. Friedman said.
The landlord of the 110-year-old building, which is 44,115 square feet, did not have a broker in the deal. Integral Contracting will relocate from its space at 33 East 33rd Street between Park and Madison Avenues, where it has about 3,000 square feet, Mr. Friedman said. The firm should move into its new home by next month.
At 36 West 37th Street, Integral Contracting will join tenants like retailer La Radiant Wholesale Handmade Jewelry, vintage comic book seller Metropolis Collectibles and health care company American Outcome Management.