Leases  ·  Office

Accounting Firm Marcum Asia Expands to 14K SF at 7 Penn Plaza

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Accounting and consulting firm Marcum Asia is expanding its footprint at 7 Penn Plaza by 8,851 square feet, according to the landlord.

The 10-year deal brings Marcum’s total square footage in the Midtown office tower to 14,870 on the eighth floor, The Feil Organization said. Asking rent was $65 per square foot.

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It’s unclear when Marcum Asia moved into the 18-story building, but its affiliated company, known simply as Marcum, leased about 70,728 square feet at 730 Third Avenue in March 2020, The Real Deal reported at the time. Marcum still lists that address as its headquarters.

The move to 7 Penn Plaza, alternatively known as 370 Seventh Avenue, and subsequent expansions were done in the name of growing its headcount and tapping into the New York City talent pool, according to Drew Bernstein, co-chair of Marcum Asia.

“When we came to them with our ambition of creating an expanded New York headquarters that would help to attract top-tier professional talent and adapt to flexible working practices, they responded with imagination and determination to customize the space according to our needs,” Bernstein said in a statement.

Steve Kaplan of Norman Bobrow & Company negotiated on behalf of Marcum Asia while Andrew Wiener and David Turino represented the Feil Organization in-house. A representative from Norman Bobrow did not immediately respond to a request for comment.

Other recent deals at 7 Penn Plaza include an expansion for KC Engineering and Land Surveying from 9,005 square feet to 12,788 square feet in May, as well as MD Squared Property Group leasing 14,855 square feet in July 2022.

Mark Hallum can be reached at mhallum@commercialobserver.com.