Business Consultant Alvarez & Marsal Takes 220K SF at 100 Park Avenue
By Isabelle Durso December 2, 2024 3:03 pm
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Business management consulting firm Alvarez & Marsal is opening a new office in Midtown.
Alvarez & Marsal has signed a lease for 220,221 square feet at SL Green (SLG) Realty’s 100 Park Avenue, according to Colliers’ November Manhattan office report, which first noted the deal.
The length of the lease and asking rent were unclear, but a report from Newmark found office rents in Midtown averaged $80.50 per square foot during the third quarter of 2024.
Cushman & Wakefield (CWK)‘s Harry Blair, Tara Stacom, Barry Zeller, Pierce Hance and Justin Royce brokered the deal for the landlord, while David Dusek, also of C&W, represented the tenant.
SL Green and C&W declined to comment, while a spokesperson for Alvarez & Marsal did not immediately respond to a request for comment.
Other major tenants of the building between East 40th and East 41st streets are construction engineering company AECOM and information services firm AlphaSights. Salad shop Chopt and Valley Bank lease retail space on the ground floor.
The news of the deal comes after Alvarez & Marsal Property Solutions, the firm’s real estate advisory arm, signed a lease for 10,700 square feet at the Feil Organization’s 488 Madison Avenue in May, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
