Icon Parking Renews 56K-SF Outpost at 200 East 66th Street
By Mark Hallum October 11, 2023 2:48 pm
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Icon Parking Systems is staying put in Lenox Hill after renewing its 56,000-square-foot lease at 200 East 66th Street, Bisnow first reported.
The parking garage operator has occupied a single level of subterranean space in the Macquarie Asset Management-owned building since 2008, but it’s not clear what the length of the lease renewal is or what the asking rent in the deal was.
The average for Manhattan in the third quarter of 2023, however, reached $663 per square foot, according to a recent report from CBRE.
Newmark (NMRK)’s Brian Ezratty negotiated on behalf of Macquarie in the deal. It’s unknown who represented Icon, which is owned by HPS Investment Partners.
Spokespeople for Newmark, Icon and Macquarie did not immediately respond to a request for comment.
Icon, one of the city’s largest parking operators, had some trouble making rent payments during the height of the pandemic. This resulted in over two dozen lawsuits from various landlords including Highgate Hotels, which took Icon to court in June 2021 for $4.7 million in back rent, Commercial Observer reported at the time.
The company’s current CEO, John Smith, joined the company just before the pandemic and has been recognized for imposing sweeping changes across the company.
Mark Hallum can be reached at mhallum@commercialobserver.com.
