Biometric Security Company Nabs Office Space at Park Avenue Tower
By Rebecca Baird-Remba September 21, 2018 10:31 am
reprints
Security tech firm Clear is moving a few avenues east in Midtown to Park Avenue Tower at 65 East 55th Street.
The company, which offers a biometric identification service that allows airport travelers to speed through security lines, is abandoning its home at 650 Fifth Avenue between West 51st and West 52nd Streets for EQ Office’s 620,000-square-foot tower between East 55th and East 56th Streets. It inked a 10-year, 24,640-square-foot lease on part of the 16th and all of the 17th floors, the landlord announced in a press release. The firm will move into the space over the course of the end of 2018 and the beginning of 2019. Asking rents in the building hover around $135 to $140 a square foot, as Commercial Observer previously reported.
“When we embarked on the capital improvement program at Park Avenue Tower, we set out to create a culturally modern setting that would complement the building’s high ceilings, large windows and efficient floor plates, while providing services that employees demand,” said Simon Wasserberger, a senior vice president at EQ Office, in a prepared statement. “We are pleased to welcome Clear and know that their employees will benefit from the tower’s extensive amenity program and corporate offerings.” Those amenities include a gym, business lounge and conference center and “community programming.”
Wasserberger and Scott Silverstein handled the deal for EQ office in-house, along with a Newmark (NMRK) Knight Frank team of Brian Waterman, Ben Shapiro, Brent Ozarowski and Lance Korman. Clear was represented by Jared Horowitz of NKF. Both sides declined to comment via a spokesman.
EQ Office recently spent $40 million renovating the building, upgrading its mechanical systems and fixing up its outdoor plaza, which has helped draw new tenants, according to the release. Financial brokerage BTIG Partners nailed down a 65,000-square-foot lease there last month.
