Turkish Firm Grabs Space in Midtown South Building
TTC USA Consulting Corporation, a Turkish trade organization, has inked a 27,750-square-foot deal at 10 East 34th Street between Madison and Fifth Avenues in Midtown South.
The firm will occupy the third, fourth, seventh, eighth and ninth floors of Caerus Group’s 10-story building, according to a press release from the landlord’s broker. The trade group is said to have been attracted to the building because of its open-plan spaces which it intends to use as offices and showrooms for its Turkish-made products.
Asking rent in the was $65 per square foot, according to The Wall Street Journal, which first reported news of the deal. The duration of the lease was not immediately available.
Andy Udis and Ronald Zimmerman of ABS Partners Real Estate represented the landlord while Snezana Anderson, Bernhard Weinstabel and Paul Walker of CBRE represented the tenant. The brokers did not respond to a request for comment via their respective spokespeople.
This week, City University of New York’s Institute for State and Global Governance announced that it expanded to 11,100 square feet in the Midtown building by adding 5,500 square feet to its existing space. The CUNY division has been in the building since 2013.
Caerus Group purchased the building from Brause Realty for $51.7 million in an all-cash deal this February. At that time, Leo Tsimmer, the senior managing partner of Caerus said that he intended to reposition the building. He attributed the new lease and the expansion to Caerus’ active repositioning strategy.
“This includes paying utmost attention to the needs of our tenants, as well as upgrading building systems and restoring the glorious façade,” Tsimmer said in prepared remarks.