Two Consulting Firms Each Lease 5K SF at 121 East 24th Street
By Mark Hallum July 17, 2023 1:46 pm
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Kofler Associates has two new tenants at 121 East 24th Street taking the exact same amount of space each.
Sports sponsorship consulting company Fenway Sports Management and executive advisory firm Collected Strategies both signed 5,186-square-foot leases across the ninth and 10th floors of the Midtown South building, respectively, according to the landlord brokers.
The landlord declined to provide the asking rent, but Midtown South saw an average of $82.02 in the second quarter of 2023, according to a recent report from Newmark.
Collected Strategies is a new venture and this office, on a seven-year lease, will be its first office.
The Boston-based Fenway Sports Management — which does marketing and consulting for sports teams including the Boston Red Sox and Liverpool Football Club — signed a five-year lease to relocate its New York City office to 121 East 24th, according to the brokers. It’s unclear where Fenway is currently located.
“We have been seeing an increase in the leasing of our move-in-ready, pre-built office space near Madison Square Park. More companies are looking to upgrade to premier locations in close proximity to New York’s subway lines and popular dining and retail,” Jeff Buslik of Adams & Company, who represented the landlord alongside James Buslik and Bradley Cohn, said in a statement.
Michael Berg and Finley Burger of JLL (JLL) handled the deal on behalf of Fenway Sports Management, while Michael Joseph and Taylor Bell of Colliers (CIGI) represented Collected Strategies.
JLL and Colliers did not immediately respond to requests for comment.
The 12-story building was constructed in 1942 and sits between Lexington and Park avenues.
Mark Hallum can be reached at mhallum@commercialobserver.com.
