Three Tenants Grow at Durst’s 1133 Avenue of the Americas
Danielle Balbi March 4, 2016, 11:50 a.m.
The 32,000 square feet of leasing action was split among energy, entertainment and commercial finance company Olympus Holdings, healthcare research and consulting firm Health Management Associates and risk management firm Treliant Risk Advisors, as The New York Post first reported.
A spokesman for Durst told Commercial Observer that the asking rent in the 1.1-million-square-foot Midtown building is $73 per square foot, but declined to provide specifics for each of the deals.
Olympus, which represented itself in the transaction, signed a five-year lease and will be taking 3,345 square feet on the 27th floor of the 45-story building. The firm currently occupies 3,143 square feet on the 16th floor, which it moved into in April 2009, according to CoStar. A representative for Olympus did not respond to a request for comment.
Health Management Associates, which came in as a subtenant on the 28th floor in October 2008, has tripled its footprint at the property and agreed to a seven-year lease for 11,700 square feet on the sixth floor. CBZI’s Eric Galanti and Hanley Advisors’ Steven Kaufman represented the tenant. Neither broker responded to inquiries.
Treliant, which initially moved into the 6,000 square feet on the 31st floor as a subtenant, has now secured a 10-year lease for 16,940 square feet on the tower’s 36th floor. Greg Taubin of Savills Studley who represented the tenant was not available for comment, but a spokeswoman for the brokerage told CO that Treliant had wanted to stay along the Avenue of the Americas corridor.
In regards to the subtenants, Jonathan Durst, president of the Durst Organization, said in prepared remarks: “It is especially pleasing when a tenant first comes to one of our properties as a subtenant and wishes to keep their offices in the building when their lease expires. Our leasing team worked with Health Management and Treliant to find the optimum spaces within the building that met the needs of their growing companies.”
Durst was represented in-house by Rocco Romeo. The firm’s Tanya Grimaldo assisted on the Olympus lease and Lindsey Ravesloot worked on the Treliant transaction.