Christie’s Real Estate Group Opening 8K-SF Office at 156 Fifth Avenue
By Abigail Nehring August 21, 2024 5:40 pm
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A real estate firm that shares its name with British auction house Christie’s has been busy with some dealmaking for itself.
Christie’s International Real Estate Group signed a five-year lease for 8,000 square feet to open a 75-person office on the ninth floor of HRC Corporation’s 156 Fifth Avenue, according to a company spokesperson and a source with knowledge of the deal.
The spokesperson declined to share the terms of the deal, but asking rent at the 13-story office tower between West 20th and West 21st streets was $64 per square foot in a trio of deals signed in 2022, as Commercial Observer previously reported.
The luxury real estate firm is the local affiliate of Christie’s International Real Estate (CIRE) serving New York, New Jersey and Connecticut. It’s headquartered at 1 Rockefeller Plaza and the 156 Fifth space will be a new outpost for Christie’s, according to the company.
CIRE, a global network of 10,000 real estate agents, was founded by the 250-year-old British auction house in 1995 but was sold to proptech firm @properties in 2021. The brokerage got to hang onto its famous brand name and the two firms remain loosely partnered, according to an announcement of the acquisition.
The 156 Fifth deal comes amid a larger expansion for the local Christie’s affiliate, according to Brett Forman, managing director of Christie’s International Real Estate Group for Manhattan.
“This new office will enable our team to further strengthen our capabilities across both the city and state of New York,” Forman said in a statement.
And the local affiliate isn’t the only Christie’s signing Manhattan deals this week. The famed auction house signed a 20-year renewal for its 400,000-square-foot space at 20 Rockefeller Plaza.
CBRE (CBRE)’s Maxwell Tarter and Alexander Golod arranged the deal at 156 Fifth for the tenant, while Newmark (NMRK)’s Eric Cagner, Dylan Weisman, Leo Koné and Claire Koeppel represented HRC.
“156 Fifth continues to attract companies seeking a destination where employees can value the office experience over remote work,” Cagner said in a statement. “The building offers a unique combination of premium space and a desirable location.”
A spokesperson for CBRE declined to comment.
Fintech firm Codat, business services provider Order and investment manager Encourage Capital also recently signed on for space at the 184,509-square-foot property, also known as Flatiron Suites, CO previously reported.
Update: The story has been updated to add the length of the lease and a statement from Eric Cagner.
Abigail Nehring can be reached at anehring@commercialobserver.com.
