Consultancy Moves On Up Within Third Avenue Building
Terence Cullen April 7, 2016, 2:30 p.m.
A consulting firm signed a deal to relocate and nearly double its size within William Kaufman Organization’s 767 Third Avenue.
Commercial Observer has learned that Argot Partners will move into 7,450 square feet, or the entire 34th floor, of the 296,000-square-foot tower between East 47th and East 48th Streets. Argot Partners has been leasing 4,293 square feet on part of the 29th floor since November 2014, according to a press release from the landlord.
The firm’s new lease is for 10 years, the release indicates. Asking rents at the 40-story building range from $66 to $76 per square foot.
“The decision to enter a new 10-year lease at 767 Third Avenue is based upon the building’s attractive location and our excellent working relationship with the William Kaufman Organization,” David M.F. Pitts, a partner of Argot Partners, said in prepared remarks.
Michael Lenchner, the head of leasing for William Kaufman Organization’s brokerage arm Sage Realty, represented the landlord. Argot did not have a broker, per a spokeswoman for the landlord.
The landlord has poured north of $3 million into renovating the building and creating an amenity space on the seventh floor of the building. That includes a sundeck, tables, chairs and a pull-down movie screen, according to the release. Work on the new digs is expected to finish this summer.
“Our new amenity center, complete with a tenant lounge, sundeck and projection screen, offers a very different experience for Third Avenue, and the prospective tenants are responding positively to it,” Mr. Lechner said in a statement.