Cablevision Lightpath Plugs Into New Midtown Office
Cablevision Lightpath, a subsidiary of telecom giant Altice USA, has inked a deal for new offices at 535 Fifth Avenue, according to owner Moinian Group.
Cablevision took a 4,850-square-foot prebuilt space on the entire 23rd floor of the building, a 36-story office and retail property on the corner of Fifth Avenue and East 44th Street.
A Moinian spokesperson declined to provide the asking rent for the five-year deal. A recent Transwestern market report pegged average Midtown asking rents for the third quarter at $81 per square foot.
The company plans to relocate later this fall from 24 West 40th Street, according to Moinian.
“As we close in on being 100 percent leased at 535 Fifth Avenue, the market continues to tell us that spaces providing high-end turnkey opportunities in prime locations are still very much in demand,” Omar Sozkesen, a vice president for commercial leasing at Moinian, said in a statement.
Mitchell Arkin and Garett Varricchio of Cushman & Wakefield, along with James Cassidy of DHC Real Estate Services, represented the landlord in the transaction. Lou D’Avanzo and Lexie Perticone, also of C&W, handled it for the tenant. A Cushman & Wakefield spokesperson declined to comment on the deal.
The building, which is now 90 percent leased, also recently secured a 7,100-square-foot lease with Forest Hills Financial Group, which is a subsidiary of Guardian Life Insurance, according to the landlord.
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