FirstService Residential Takes 48K SF in Midtown
By Rebecca Baird-Remba February 14, 2022 10:53 pm
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Residential management company FirstService Residential has leased new office space at Beacon Capital Partners’ 575 Fifth Avenue in Midtown, in a relocation from 622 Third Avenue in Midtown South.
The firm, which bills itself as the largest residential property manager in North America, inked a 15-year lease for 48,000 square feet across the ninth and 10th floors of 575 Fifth, between East 46th and East 47th streets, according to a spokesperson for FirstService. The tenant’s spokesperson also declined to disclose the asking rent in the deal.
FirstService expects to move in the fall of 2022. Montroy DeMarco Architecture is handling the build-out of the space.
Mark Friedman of Colliers (CIGI) represented the tenant. The landlord handled the transaction in-house, along with Josh Kuriloff and Bruce Mosler of Cushman & Wakefield (CWK), who didn’t immediately return a request for comment. A Colliers spokesperson didn’t immediately return a request for comment.
Beacon and building co-owner MetLife renovated the 35-story, 500,000-square-foot building a few years ago to add a tenant lounge, bike parking, three conferencing centers and a lobby Starbucks. Other tenants in the building include Axpo, Charlesbank and Russell Investments.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
