Structural Engineering Firm Severud Reups at 469 Seventh Avenue
By Nicholas Rizzi July 15, 2021 3:39 pm
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Structural engineering firm Severud Associates renewed its lease at Meyer Equities’ 469 Seventh Avenue in the Garment District, Commercial Observer has learned.
Severud signed a five-year lease to keep its 17,000-square-foot space on the entire ninth floor of the 17-story building between West 35th and West 36th streets, according to tenant brokers Savills. Asking rent was in the mid-$60s per square foot.
The structural engineering firm — which has worked on projects that include One Vanderbilt and the Moynihan Train Hall — has been a tenant at 469 Seventh for more than a decade. It decided to stay put because “they remain bullish on the future of New York City and appreciate the relationship they have with Meyer Equities,” said Savills’ Kirill Azovtsev, who brokered the deal for Severud.
“Being in such close proximity to Penn Station and Hudson Yards also played a factor in Severud Associates’ decision to remain in its current space for the foreseeable future,” Azovtsev said in a statement.
Azovtsev worked on the deal for Severud along with Jim Wenk, also of Savills. Meyer Equities handled it in-house via Eric Meyer and Marty Meyer.
“At Meyer Equities, we’re strong believers in the need for office space in New York, and we’re happy Severud decided to extend their term with us and continue a very positive relationship,” Eric Meyer told CO. “Jim Wenk and Kirill were tough negotiators, but in the end, we came to a lease we’re all happy with.”
Other tenants in the building include digital marketing firm Intouch Solutions, women’s sportswear designer E-Lo Sportswear, and tech recruiting firm Open Systems Technologies.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
