Hospitality Company MevRam Expands at 320 Fifth Avenue
By Nicholas Rizzi August 4, 2023 11:55 am
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MevRam Services — a hospitality and commercial cleaning company — is keeping its 320 Fifth Avenue offices and nearly doubling its space, according to brokers on the deal.
The company extended its three-year lease in the 12-story Midtown South building by another year and grew from 1,337 square feet to 2,008 square feet, according to Resolution Real Estate Partners, which brokered the deal for both sides.
A spokesperson for Resolution could not provide the asking rent, but Cushman & Wakefield found average asking rents in Midtown South were $75.84 per square foot in the second quarter of 2023.
MevRam was founded in 2014 and provides a range of services for 33 hotels around the country, including front desk and cleaning staff, linen rentals, and commercial cleaning, according to its website.
Resolution’s Jonata Dayan represented MevRam and landlord Brause Realty in the deal.
“Brause Realty is a hands-on owner that has provided top-of-the-line renovations and building improvements geared to retaining tenants in the long term,” Dayan said in a statement. “It is these kinds of efforts that have brought the tenants back to their offices during the workweek.”
Aside from MevRam’s deal, design and branding firm Marine Lane signed a five-year renewal for its 1,089 square feet on the fifth floor, according to Resolution.
Dayan brokered that deal for Brause while Cresa’s Bert Rosenblatt represented Marine Lane.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
