Literary Scout Maria B. Campbell Associates Renews Lease at 381 Park Avenue South
By Amanda Schiavo December 16, 2024 3:59 pm
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A literary scout didn’t have to scout for new New York City offices, Commercial Observer has learned.
Maria B. Campbell Associates renewed its offices at 381 Park Avenue South, one of three deals announced Monday in Atco Properties’ 17-story Midtown office building, according to the landlord.
The agency, which helps foreign publishers and film and TV studios find and adapt books to their mediums, renewed its 2,957-square-foot lease on the 13th floor of 381 Park Avenue South. Asking rent was not disclosed, but previous Commercial Observer reporting noted asking rent in the building averaged $62 per square foot.
Colliers (CIGI)’ Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti represented the building’s owners in the lease, while Hannah Gerard of CBRE handled it for Maria B. Campbell Associates. Colliers and CBRE did not respond to requests for comment.
Additionally, commercial real estate operator and investment company Continental Realty signed a new two-year 1,191-square-foot office lease on the ninth floor of the building, according to Atco. Colliers’ Tunis, Berlinsky and Mangiacotti represented the building’s owners in this transaction as well. Jacob Wolkenfeld of Norman Bobrow & Company brokered it for Continental Realty.
“The reason 381 Park Avenue South intrigued my client is threefold,” Wolkenfeld told Commercial Observer via email. “They are one of very few buildings in the area with space of the size that we were looking for; ownership was willing to explore the prospect of a short-term lease, which was attractive to my client since we have always been operating out of a coworking environment; and the location is something that my client has become very accustomed to.”
Asking rent was $58 per square foot, according to Wolkenfeld.
Finally, investment adviser Industrial Development Funding has expanded and renewed its lease at the property, signing a new deal for 1,939 square feet on the seventh floor of 381 Park Avenue South. The company will move from the 11th floor and expand by 660 square feet in the process, according to Atco.
Kate Hemmerdinger Goodman of Atco handled the lease negotiations with Industrial Development Funding.
“We are thrilled to welcome new and returning tenants to our community at 381 Park Avenue South,” Hemmerdinger Goodman said in a statement. “These transactions underscore our unwavering dedication to offering high-quality spaces and unparalleled services that cater to the evolving needs of businesses in Midtown South.”
Built in 1909, 381 Park Avenue South spans 228,000 square feet and is near Madison Square Park. Some of the building’s other tenants include restaurant and bakery Sarabeth’s, men’s clothing company Eton and French skin care company Caudalie.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
