Consulate General of Japan to Remain at 299 Park Avenue
The diplomatic agency signed a lease to keep its offices on the 18th and 19th floors of the 42-story building between East 48th and East 48th Streets until 2036, according to Fisher Brothers. Asking rent was in the mid-$90s per square foot, a source with knowledge of the deal said.
The Consulate General of Japan—its jurisdiction includes New York, New Jersey, Pennsylvania, West Virginia, Delaware, Connecticut, Puerto Rico and the U.S. Virgin Islands—has had its offices in 299 Park Avenue since 1983, according to Fisher Brothers.
“As hands-on owners, we set out to provide premier office environments that are fully modernized, thoughtfully designed and offer the highest level of service for our tenants,” Ken Fisher, a partner at Fisher Brothers, said in a statement. “As a valued tenant for nearly four decades, the Consulate General of Japan has experienced this first-hand, and we view this long-term extension with the organization as a validation of our efforts.”
Marc Packman and Charles Laginestra handled the deal in-house for Fisher Brothers. Stuart Eisenkraft, Robert Stillman, John Maher and Ariel Ball of CBRE represented the tenant. A spokeswoman for CBRE declined to comment.
The 1.2-million-square-foot building was built by Fisher Brothers and first opened in 1967. Fisher Brothers plan to start a $20 million capital improvement project in the property that will redesign the lobby and building entrance and add and illuminated plaza, according to the landlord.
Other tenants in the building include financial firms Capital One, UBS, Bardin Hill Investment Partners and One Williams Street Capital Management.