Finnish Government, Law Firm Finish Deals at 605 Third Avenue
Finnish government agencies—The Permanent Mission of Finland and the Consulate General of Finland—together signed a 19,110-square-foot lease to occupy the entire 35th floor of the building between East 39th and East 40th Streets.
The government offices are relocating from 866 United Nations Plaza between East 48th and East 49th Streets in 2018, according to a Fisher Brothers news release. The asking rent in the new 15-year lease was in the high-$70s per square foot, a source with knowledge of the deal told Commercial Observer.
A Savills Studley team of Michael Goldman, Kunihiko Otomo and Brad Wolk represented the Finnish government agencies. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel, as well as Cushman & Wakefield’s Bruce Mosler, Mikael Nahmias, Louis D’Avanzo and Michael Baraldi.
“We are pleased to welcome the Permanent Mission of Finland and Consulate General of Finland, which were drawn to 605 Third Avenue for its fully modernized environment, distinctive design, and ideal location near the United Nations,” Ken Fisher, a partner at Fisher Brothers, said in statement.
The Wall Street Journal first reported news of Finland’s United Nations mission and consulate general lease.
In the second transaction, law firm Podell, Rothman, Schechter & Banfield inked an early renewal of its 19,871-square-foot offices for the 18th floor. The firm, which has been located at the building since 1993, extended its lease for 10 years.
Packman of Fisher Brothers represented the landlord in-house on this deal as well, and he worked with the law firm directly. The asking rent in the deal was in the low-$70s per square, according to an industry source.
“The renewal with Podell, Rothman, Schechter & Banfield is a validation of our efforts to provide our tenants with a best-in-class experience,” Winston Fisher, a partner at Fisher Brothers, said in prepared remarks. “We are thrilled that this firm has chosen to remain at 605 Third Avenue, where they have been located for over two decades.”
Earlier this year, Fisher Brothers completed a $25 million renovation of 605 Third Avenue, which featured a new building entrance and redesigned lobby by architect David Rockwell.
Recently law firm Hodgson Russ signed a lease for the entire 19,871-square-foot 23rd floor at the 1.1-million-square-foot building, as Commercial Observer previously reported.