Polish Mission to the UN, Accountant Grassi & Co. Ink Deals at 750 Third Ave
By Rebecca Baird-Remba July 22, 2022 11:58 am
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The Polish mission to the United Nations and an accounting firm have signed new leases at 750 Third Avenue in Midtown East, landlord SL Green Realty Corp. announced this week.
The Permanent Mission of the Republic of Poland to the United Nations inked an early renewal for its 17,890 square feet on the 30th floor of the building between East 46th and East 47th streets. Asking rent for the 10-year lease was $76 a square foot, according to the landlord.
And accounting firm Grassi & Co. leased 11,779 square feet for five years in the building. Asking rent for the space was $74 a square foot. The company currently has an office at 488 Madison Avenue, near Rockefeller Center, but it’s not clear whether it plans to relocate or just establish another office in Midtown.
Ronald Shakerdge of Republic Realty Services represented the Polish mission in the negotiations, and Michael Burgio of Cushman & Wakefield negotiated the transaction for Grassi & Co. Neither Shakerdge nor C&W spokespeople immediately responded to requests for comment. SL Green (SLG) handled both transactions in-house.
During their earnings call this week, SL Green execs tried to downplay a slow quarter of office leasing for the city’s biggest office landlord. It signed 39 leases totalling 188,000 square feet in the second quarter, a significant decline from 37 leases spanning 820,989 square feet in the first quarter of 2022.
“While SL Green’s second quarter closed leasing transactions was below average, this is not to be unexpected due to the front-loaded activity we had in the first quarter, which followed a lot of activity we had in Q4 2021 and a precursor to what we hope will be back to our average levels for Q3 and Q4,” said SL Green’s Marc Holliday. “So there is a level of cyclicality to how and when we can time these leases. But we feel, as we sit here today, we are on track.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
