Antique Dealer Austin Lloyd Opening First NYC Office
The landlord at 695 Lexington Avenue will have more than a few pennies in its pocket after signing rare coin and collectible purveyor Austin Lloyd to a lease, Commercial Observer has learned.
Austin Lloyd signed a five-year lease to open its first New York City office at 6,139-square-feet on the entire ninth floor of the building at the corner of Lexington and East 57th Street, according to Newmark (NMRK), which brokered both sides of the deal. The building is owned jointly by AEW, East End Capital and ABS Partners.
Asking rents in the building, also known as LX57, range from the mid-$60 to low $70 per square foot.
“Following significant capital improvements, including a new window system and renovated sleek interiors, LX57 has become increasingly attractive to office users,” Newmark’s Jonathan Franzel, who repped both sides of the deal alongside David Falk and Dylan Weisman, said in a statement. “In addition to the asset’s new hospitality-focused design, the tenant gravitated towards the forward-thinking prebuilt space and the opportunity to occupy an entire floor of boutique space.”
AEW, East End and ABS Partners purchased the 102,000-square-foot office building in 2019 for about $2.7 million and soon started work to turn the property from Class B into Class A.
This included enlisting architecture firm Gensler in repainting the facade, replacing the windows and spandrels, updating the elevators, and creating a new entrance and lobby, Commercial Observer previously reported.
With renovations wrapping up in January, it’s unclear if Austin Lloyd is the first tenant to sign in the building since the upgrades or if there are others already occupying space. The coin dealer moved in Feb. 1.
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