CI US Holdings Signs 50K-SF Lease at 101 Park Avenue
By Mark Hallum January 17, 2023 4:29 pm
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CI US Holdings, a Canadian wealth management firm, signed a 50,000-square-foot lease at H.J. Kalikow & Co.‘s 101 Park Avenue, the New York Post first reported.
The company will occupy the entire 29th and 30th floors of the Midtown East building, which has asking rent of $105 per square foot, according to landlord brokers Cushman & Wakefield (CWK), which did not disclose the length of the lease.
This will be the CI US Holdings’ first New York City office under the official name. The firm has had holdings in the five boroughs after a 2021 spending spree saw it acquire six companies, including Bluestein and RegentAtlantic.
C&W said the new office signing was a consolidation of operations from two recent acquisitions, but did not name the specific companies.
“Kalikow has done a fantastic job positioning 101 Park Avenue as New York’s trophy office asset, complete with best-in-class amenities for a productive and collaborative work environment for their tenants,” C&W’s John Cefaly, who represented the landlord alongside Nicholas Dysenchuk, said in a statement.
Mark Robbins and Evan Foley of Avison Young represented the tenant alongside Mitti Liebersohn — who left Avison Young over the summer — of Savills. Avision Young and Savills did not immediately respond to requests for comment.
101 Park Avenue sits two blocks east of the New York Public Library’s main branch and one block south of Grand Central and the new East Side Access terminal known as Grand Central Madison, expected to open at some point in January.
“Access to Metro-North, major subway lines and now Grand Central Madison make 101 Park Avenue uniquely situated for tenants,” Kathryn Kalikow, principal at H.J. Kalikow & Co., said in a statement. “101 Park Avenue has been the longtime home of prestigious companies — including Morgan Lewis, Morgan Stanley, The Federal Home Loan Bank of New York and Nippon Life — on account of its striking architecture and superior level of service.”
Other recent deals in the 1.3 million-square-foot building include Convene’s expansion to 25,200 square feet at the property, Wendel North America signing an 8,402-square-foot lease on the 46th floor, Incline Equity Partners taking 18,000 square feet, and Five Iron Golf agreeing to 30,000 square feet on the third floor.
Mark Hallum can be reached at mhallum@commercialobserver.com.
