Focus Financial Takes 25K SF at 1325 Avenue of the Americas
By Mark Hallum January 8, 2025 2:12 pm
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Paramount Group and a financial services tenant have brought a new lease deal into focus, Commercial Observer has learned.
Focus Financial signed a 12-year, 25,000-square-foot lease at 1325 Avenue of the Americas to relocate from its current offices six blocks away at 875 Third Avenue, according to a source with knowledge of the transaction.
The asking rent in the deal was not immediately disclosed, but the average asking rent for Midtown office space was $82.13 per square foot in the fourth quarter of 2024, according to CBRE.
Peter Brindley and Sean Kirk represented Paramount Group in-house while Newmark (NMRK)’s David Falk, Jason Greenstein and Dylan Weisman negotiated on behalf of Focus Financial. Paramount did not immediately respond to a request for comment while Newmark declined to comment.
Recent deals in the building include women’s footwear purveyor Sam Edelman renewing its 29,333-square-foot offices in August, and real estate legal services firm Cole Schotz renewing its lease and expanding by 8,000 square feet in March 2024.
The 34-story building between West 53rd and West 54th streets is also home to the Major League Baseball Players Association, insurance and commercial law firm Cohen Ziffer Frenchman & McKenna and publisher McGraw-Hill Education.
Mark Hallum can be reached at mhallum@commercialobserver.com.
