Nonprofit Tikvah Fund Keeps Midtown Offices
By Celia Young May 8, 2023 4:31 pm
reprints
Conservative Jewish nonprofit The Tikvah Fund will keep its 9,000-square-foot Midtown offices, Commercial Observer has learned.
Tikvah signed a three-year deal to renew its space across the entire fourth floor of 165 East 56th Street, said tenant broker Arthur Draznin of Draznin Real Estate Advisors.
Draznin declined to disclose the asking rent, but average asking rent in Midtown was $76.95 per square foot in the first quarter of 2023, according to a Cushman & Wakefield report.
Tikvah moved to the eight-story building a decade ago and decided to stick with it because of Tikvah’s strong relationship with its landlord, the American Jewish Committee (AJC), another Jewish advocacy organization, Draznin said.
“Being [in the building] gave them excellent security and a like-minded landlord,” Draznin said. “Also, the location at 56th Street and Third Avenue provides good access to transportation.”
Other tenants at the property between Lexington and Third avenues include AJC’s own offices and Jewish nonprofit the Harold Grinspoon Foundation.
Colliers’ Howard Kaplowitz represented the landlord in the deal. Kaplowitz and spokespeople for Tikvah and AJC did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
