HVAC Design Collective Ambient Enterprises Relocating to 498 Seventh Avenue
By Mark Hallum September 6, 2023 3:55 pm
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Ambient Enterprises is closing two of its offices in Manhattan, but tripling its total footprint with a 17,000-square-foot sublease at 498 Seventh Avenue, Commercial Observer has learned.
The HVAC design collective of 11 companies will move from a combined 5,000 square feet at both 5 West 19th Street and 20 West 36th Street to 498 Seventh, owned in a joint venture among George Comfort & Sons, Loeb Partners Realty and a South Korean investment firm known as JR AMC, according to subtenant broker Savills.
The sublandlord, the length of the lease and the asking rent was not disclosed, but a recent report from Lee & Associates NYC said the average asking rent in Midtown was about $77 per square foot in the second quarter of 2023.
“We were able to strategically meet Ambient’s needs for more workspace and a more unified setup by placing the company in a fully furnished office with high-end installation,” Savills’ Christopher Foerch, who represented Ambient with Roi Shleifer, Ryan Remington and Jack Bivins, said in a statement.
Andrew Conrad and Matt Coudert of George Comfort & Sons represented the landlord in-house as well as the sublandlord. George Comfort did not immediately respond to a request for comment.
Ambient will move to the 14th floor of the building in November, according to Savills.
The building between West 36th and 37th streets is 25 stories tall, spans 960,000 square feet, and recently attracted Securitas Security Services, which signed a 19,500-square-foot lease in April.
Mark Hallum can be reached at mhallum@commercialobserver.com.
