Phaidon Doubles Space at Cohen Brothers’ Grand Central Plaza
Phaidon International has signed a 10-year deal to double its space at 622 Third Avenue near Grand Central Terminal, according to a release from the company.
Phaidon, a recruitment company, will lease the entire eighth floor in the Midtown office tower for a total of 32,000 square feet, a move up from its 15,000-square-foot space on the third floor. Phaidon moved into the the building in 2016, when it signed an 11-year lease with an asking rent of $59 per square foot, Commercial Observer previously reported.
Current asking rents at the building are $62 per rentable square foot, according to the release.
Cohen Brothers Realty, led by Charles Cohen, is the owner of the 41-story building between East 40th and East 41st Streets, and known as Grand Central Plaza.
Other tenants at the property include advertising agency McCann, which has occupied nearly half the building since 2000, recruitment firm Monster Worldwide and travel tech firm Tripper, which signed a 10,000 square-foot-lease at the property in April of last year, CO reported.
David Mainthow of Cushman & Wakefield represented Phaidon a spokeswoman for C&W confirmed, Marc Horowitz at Cohen Brothers represented the landlord in-house, a spokesman for the company confirmed. A spokeswoman for C&W declined to comment.