Carmel Partners Remains in Cohen’s 805 Third Avenue Through Direct Deal
By Rebecca Baird-Remba April 26, 2017 5:59 pm
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San Francisco-based real estate investment firm Carmel Partners has inked a five-year deal for 6,200 square feet of office space at 805 Third Avenue between East 49th and East 50th Streets in Midtown East.
The company has been a subtenant since 2009 at the 31-story, 600,000-square-foot office tower, which is known as the Crystal Pavilion and owned by Cohen Brothers Realty Corporation. Carmel will continue to occupy a portion of the 20th floor. It wasn’t immediately clear who Carmel subleased from during its previous lease.
Marc Horowitz of Cohen Brothers handled the transaction in-house, and Gordon Ogden of Byrnam Wood represented the tenant.
“We’re delighted that this highly respected national real estate firm has chosen to continue to grow its business here in New York at 805 Third Avenue,” said Charles Cohen, the president and chief executive officer of Cohen Brothers, in prepared remarks. Ogden declined to comment.
The asking rent was $65 a square foot.
A few small spaces are available in the building, ranging from 2,500 to 6,719 square feet, according to Horowitz. Other tenants at the 1980 office building include Meredith Corporation, Yankees Entertainment and Sports Network, Extell Development Company and Sonoma Capital Management.
The first three floors of the property host a large glass atrium and a collection of restaurants and shops on the ground floor. Office workers can chow down at spots like Pampano Taqueria, Gyu-Kaku Japanese BBQ and Dos Caminos.
