Consultancy Moves On Up Within Third Avenue Building


A consulting firm signed a deal to relocate and nearly double its size within William Kaufman Organization’s 767 Third Avenue.

SEE ALSO: Wells Fargo Renews Flagship Branch Lease in Midtown East

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.