Health Care Adviser Marwood Renews 19K-SF Lease at 733 Third Avenue
By Rebecca Baird-Remba February 8, 2024 12:03 pm
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The Durst Organization has signed nine office deals totaling 60,000 square feet across three different buildings on Third Avenue near the United Nations, with health care advisory firm Marwood Group inking the largest one.
Marwood, which works with health care companies and financial firms focused on medicine, renewed 18,960 square feet for 11 years on the 11th floor at 733 Third Avenue in Midtown East, according to Durst. A spokesperson for the landlord declined to provide asking rent for the deal. The latest Cushman & Wakefield market report pegs Midtown East asking rents at $71 per square foot.
The company has been a tenant at the building for nearly two decades and last renewed 25,438-square-foot offices in 2017, as Commercial Observer previously reported. It’s unclear when Marwood downsized.
Two other tenants also inked leases at 733 Third, a 24-story tower on the corner of Third Avenue and East 46th Street. Praedium Group, a real estate investment firm, renewed for 7,450 square feet on the 24th floor. Real estate law firm Rosenberg & Estis signed a 6,500-square-foot expansion lease on the 14th floor.
Three blocks south at 675 Third Avenue, financial services firm Karbone expanded to 8,500 square feet for eight years. Law firm Edward H. Burnham Esquire renewed 7,300 square feet, and another law firm, Sandler, Travis & Rosenberg, kept its 1,193 square feet.
Finally, at 655 Third Avenue, Japan-based Shinkin Central Bank signed a 10-year lease renewal for 3,550 square feet on the 26th floor. Catalonia Trade & Investment, a Catalan government agency aimed at attracting investment in the Catalonia region of Spain, extended its 3,100-square-foot lease on the 18th floor. And financial manager Daventry Group renewed 1,800 square feet on the 21st floor.
Dennis Someck and Justin Myers of Lee & Associates NYC represented Marwood and didn’t immediately return a request for comment via a spokesperson. Tom Bow, Ashlea Aaron, Lauren Ferrentino and Bailey Caliban represented the landlord in-house in all the leases.
“We have seen extraordinary leasing momentum up and down the Third Avenue corridor over the past year and are pleased that tenants recognize all that the avenue has to offer their employees, clients, and partners,” said Jody Durst, the president of The Durst Organization, in a statement.
New York Business Journal first reported on the lease deals.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
