Stark Office Suites Signs 12K-SF Lease at Durst’s 825 Third Avenue
By Mark Hallum July 29, 2024 12:36 pm
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A flexible workspace provider is setting up a location at the Durst Organization’s 825 Third Avenue, Commercial Observer has learned.
Stark Office Suites signed a 17-year lease for 11,816 square feet to open its third Manhattan location on the 21st floor of the 530,000-square-foot building, according to the landlord. Asking rent ranged from the low- to mid-$90 per square foot.
“There is strong demand from our community of professionals and entrepreneurs to have an elevated contemporary office environment in a Class A building that offers premium amenities,” Adam Stark, president of Stark Office Suites, said in a statement.
Stark also leases furnished, flex-space offices in Manhattan at One Grand Central Place near Grand Central Terminal and at 110 East 59th Street in the Plaza District. Other locations are in Westchester County, Connecticut and Long Island.
Thomas Bow, Ashlea Aaron, Sayo Kamara and Bailey Caliban represented Durst in-house in the transaction while Craig Lemle and Roi Shleifer of Savills negotiated on behalf of the tenant. Savills did not immediately respond to a request for comment.
Durst has recently pumped $150 million in capital improvements into the building at the corner of Third Avenue and East 50th Street, where Allied Irish Banks signed for the full 14th floor in early June and private equity firm Siris Capital inked a 6,079-square-foot relocation deal around the same time.
Improvements include 4,000 square feet of public space, a tenant amenity facility named Well& by Durst and prebuilt offices known as DurstReady, according to the landlord.
Mark Hallum can be reached at mhallum@commercialobserver.com.
