Market Research Consultancy Nearly Doubles Space in Bryant Park Area
Lauren Elkies Schram April 19, 2016, 11:45 a.m.
Schireson Associates, a full-service market research consultancy specializing in high-tech data and analytics, will be moving to 7,558 square feet at 5 Bryant Park, Commercial Observer has learned. The company will occupy the entire 33rd floor.
The asking rent in the seven-year deal on Avenue of the Americas between West 40th and West 41st Streets was in the low-$90s per square foot, according to a spokeswoman for Newmark Grubb Knight Frank, and the company will move in on Aug. 1.
NGKF’s Scott Gutnick and Aaron Maltz represented the tenant in the transaction. Landlord Equity Office, an affiliate of Blackstone Group, was represented by NGKF’s Brian Waterman, Brent Ozarowski, Josh Gosin and Alex Radmin.
Built in 1958, the 35-story, 685,000-square-foot 5 Bryant Park, formerly known as 1065 Avenue of the Americas, underwent over $40 million in building renovations, which were completed in late-2015. They included an updated lobby and brand new building entrance on West 41st Street in addition to its original West 40th Street entrance.
“While some TAMI [or technology, advertising, media and information services] tenants have previously focused on Midtown South and the upper Plaza District, landlords like Equity Office are drawing in more of these tenants to the Bryant Park area with creative installations and boutique floor plates,” Mr. Gutnick said in prepared remarks. “Schireson Associates felt that Bryant Park was a perfect match for the firm’s culture and is looking forward to a new home for its growing employee base.”
Equity Office’s Scott Silverstein said about Schireson Associates: “It’s an innovative company with an appreciation for our highly creative and quality pre-builts in the heart of the thriving Bryant Park submarket.”
The building is 89.5 percent occupied with tenants including TJX Companies, HOK Group, Place IQ and Seamless Web. As CO reported in March, XP Securities, a wealth management firm, inked a deal for the entire 29th floor, or 7,558 square feet of pre-built space.