Low-Income Housing Tax Syndicator CREA Expands at 800 Third Avenue
By Nicholas Rizzi September 15, 2021 1:42 pm
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CREA, a tax syndicator for low-income housing, renewed and expanded its offices at 800 Third Avenue, Commercial Observer has learned.
The firm signed a 10-year lease for 5,718 square feet on parts of the 37th floor of the 41-story building between East 49th and East 50th streets, according to broker JLL (JLL). Asking rent was in the low $70s per square foot.
CREA, which has closed $7.8 billion in low-income housing tax credits since 2001, currently has a 4,438-square-foot presence on the 37th floor, JLL said.
“CREA’s long-term expansion and extension highlight their commitment to Manhattan,” JLL’s Simon Landmann said in a statement. “The renovation of both their existing and expansion suites provides a significantly enhanced office environment with additional infrastructure upgrades.”
Landmann brokered the deal for CREA with colleague Alexander Chudnoff. The landlords, SL Green Realty Corp. and Joseph P. Day Realty Corp., handled it in-house via Richard Teichman, along with JLL’s Larry Swinger and Elaine Anazagasty.
Other tenants in 800 Third include law firm Kudman Trachten Aloe Posner, investment manager Renaissance Technologies and flexible office provider Quest Workspaces.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
