NYC Police Foundation Leases 8K SF at RXR’s 530 Fifth Avenue
By Mark Hallum December 6, 2024 12:44 pm
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A nonprofit organization supporting law enforcement operations is moving its Manhattan headquarters a block away, Commercial Observer has learned.
The New York City Police Foundation searched the perimeter of Midtown for a new office and found it close by at RXR’s 530 Fifth Avenue, where it signed an 11-year, 7,803-square-foot lease, according to the landlord. RXR decline to provide the asking rent which was $85 per square foot, according to a source with knowledge of the deal.
The foundation is relocating from its current offices at 555 Fifth Avenue.
“It’s rare to find a space that can support such a wide range of firms, and RXR is committed to flexibility and innovation to meet all tenants’ needs,” William Elder, managing director of the RXR’s New York City division, said in a statement.
New York City Police Foundation, which is independent of the New York Police Department, provides resources and training to the NYPD, according to its website. It also supports youth programs, community outreach, anti-crime programs and new technologies.
Joshua Berg and Alexander Kesseler from Newmark (NMRK) negotiated on behalf of the tenant while RXR’s Andrew Ackerman and Walter Rooney brokered the deal for the landlord with help from John Ryan, Patrick Steffens and Joseph Gervino of Avison Young.
Newmark and Avison Young did not immediately respond to requests for comment.
Other tenants at 530 Fifth Avenue include recruiting firm Major, Lindsey & Africa, which signed a 12,293-square-foot lease in January 2024; business media company PEI Group, which took 14,341 square feet in April 2023; and Avison Young with a 44,400-square-foot space.
Mark Hallum can be reached at mhallum@commercialobserver.com.
