Trio of Financial Firms Sign 15K SF of Leases at 410 Park Avenue
By Rebecca Baird-Remba July 21, 2021 2:44 pm
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Three financial tenants have inked 15,350 square feet of office leases at Global Holdings Management Group’s 410 Park Avenue, Commercial Observer has learned.
Investment manager Permanens Capital Partners leased 4,191 square feet on the fourth floor of the 22-story building. The firm will relocate from 545 Madison Avenue.
Bank of Thailand signed for 2,959 square feet of space on the fourth floor and will relocate from 1270 Avenue of the Americas.
Finally, private equity firm Glendower Capital doubled its space on the seventh floor to 8,200 square feet and extended its lease.
The length of the leases ranges from three to seven years, according to JLL (JLL)’s Paul Glickman, who represented the landlord in the transactions. Asking rents in the building run from the mid-$70s to mid-$80s per square foot.
JLL’s Glickman, Benjamin Bass, Diana Biasotti, Kristen Morgan and Harrison Potter represented Global Holdings in the negotiations. Derrick Ades and Jared London of CBRE represented Permanens Capital in its lease deal, while Robert Goodman of Colliers brokered the transaction for Bank of Thailand in its transaction. Glendower Capital was represented by Gregg Cohen of Cresa.
The 250,000-square-foot property at the corner of East 55th Street and Park Avenue just underwent a renovation that includes lobby upgrades, new amenity and conference centers, a gym and a golf simulator.
“410 Park Avenue is uniquely positioned to accommodate small [to] mid-size financial firms, entrepreneurs and boutique businesses seeking to engage employees with a high-level service building,” Glickman said in a statement.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
