Leases  ·  Office

Gold Seller Sepp Leaf Renews 5K-SF Lease at 381 Park Avenue South

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All that glitters is a five-year commitment.

A family business that sells gold, silver and palladium leaves renewed its 4,617-square-foot lease in Midtown South, Commercial Observer has learned.

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Sepp Leaf Products took the 13th floor of ATCO Properties & Management’s 381 Park Avenue South for another five years, according to the landlord. Asking rents in the building are between $59 to $63 per square foot.

“With its enduring architectural charm and coveted Midtown South location, 381 Park Avenue South remains an attractive choice for both new and returning tenants,” Kate Hemmerdinger Goodman, Atco’s co-president who represented both Sepp Leaf and the landlord, said in a statement.

Other recent deals in the building include a four-year renewal, with the addition of 1,249 square feet, for Valerio Architects on the ninth floor. The transaction brings its total footprint to 3,239 square feet. Goodman also handled negotiations for both sides.

PreZenDental also signed a 10-year lease for 1,375 square feet on the 11th floor, according to Atco. Evan Gasman of CARR represented the tenant in the transaction while Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers represented Atco. Gasman and Colliers did not immediately respond to a request for comment.

The dental office will open its mouth … er, doors in the second quarter of 2024.

Lastly, Breakaway Communications renewed its 1,203-square-foot lease for a term of five years with representation from Alex D’Amario from CBRE and Goodman representing ownership in-house. CBRE did not immediately respond to a request for comment.

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