Leases  ·  Office

Incline Equity Partners Expanding NYC Offices in 101 Park Avenue Move

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Incline Equity Partners is expanding its New York City office footprint by 66 percent with a move to 101 Park Avenue, Commercial Observer has learned.

The Pittsburgh-based private equity firm signed a 10-year lease to relocate its New York City offices from 505 Fifth Avenue to 18,000 square feet in the H. J. Kalikow & Co.-owned building at East 40th Street and Park Avenue, according to tenant broker JLL (JLL). Asking rent was $135 per square foot.

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“We have been fortunate to partner with Incline as they first established their New York office at 100 Park Avenue, then doubled in size to 505 Fifth Avenue, and now to their new home in 101 Park Avenue,” JLL’s Alexander Chudnoff, who represented Incline Equity alongside Harrison Potter and Kate Roush, said in a statement. “It is rewarding to help them now secure extraordinary space in one of Midtown’s leading office towers for the next stage of their growth.”

Cushman & Wakefield (CWK)’s John Cefaly and Nicholas Dysenchuk represented H. J. Kalikow & Co. in the deal. C&W declined to comment.

Inclined Equity has been growing fast — with its payroll more than doubling in the past three years — and so has its NYC space. It previously had 5,500 square feet at 100 Park Avenue then inked a deal to relocate to 10,875 square feet at 505 Fifth in December 2021, as CO previously reported. 

The 49-story, 1.3 million-square-foot 101 Park has been owned by H.J. Kalikow & Co. since just after its construction in 1982. It offers tenants Club 101, a dining club, business and entertainment venue, and a partnership with Convene. The five-story lobby has a concierge and the elevators are staffed with operators, according to JLL.

Mark Hallum can be reached at mhallum@commencialobserver.com.