Major, Lindsey & Africa and Developer Operative Sign Deals at 530 Fifth
By Mark Hallum January 25, 2024 12:29 pm
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A recruiting firm and a software development firm signed office leases at RXR’s 530 Fifth Avenue, Commercial Observer has learned.
In the largest deal, Major, Lindsey & Africa, which specialized in finding talent for law firms, signed an 11-year, 12,293-square-foot lease to occupy part of the 11th floor of the Scott Rechler-owned building in Midtown, according to the landlord.
Asking rent for the space was $67 per square foot and the tenant will be relocating from 521 Fifth Avenue, RXR said.
Jamie Smith and Michael Norris of Cushman & Wakefield (CWK) represented the tenant while RXR had in-house representation from William Elder, Andrew Ackerman and Walter Rooney along with John Ryan, Brooks Hauf and Patrick Steffens of Avison Young.
Avison Young and C&W did not immediately respond to a request for comment.
Major, Lindsey & Africa wasn’t the only deal RXR signed in the property.
The software firm known as Operative, which specializes in providing management solutions for media organizations, renewed its lease for 9,751 square feet on the 19th floor for another three years, according to RXR. The tenant moved into the building in 2019. Asking rent for that space was $78 per square foot.
Operative was represented by Jason Birk and Steven Marvin of Olmstead Properties as well as by Eric Ladden of Cornerstone Real Estate Group" class="company-link">Cornerstone Real Estate Group. The brokerages did not immediately respond to a request for comment.
Elder, Ackerman and Rooney again represented RXR in-house, this time with colleague Heidi Steinegger involved in the negotiations.
“The choice to move to our building by Major, Lindsey & Africa and the choice of Operative to renew reflect the growing trend of sophisticated companies seeking highly amenitized and efficient spaces in close proximity to Grand Central Station,” Elder, RXR’s managing director of New York City leasing, said in a statement. “The submarket is arguably the most sought-after office location in Manhattan, especially with the recent addition of [Long Island Railroad] service to Grand Central Madison.”
Mark Hallum can be reached at mhallum@commercialobserver.com.
