Consulting Firm Gardiner & Theobald Keeps 28K SF at 535-545 Fifth Avenue

Construction and property consulting firm Gardiner & Theobald is staying put at its Midtown office.

Gardiner & Theobald, which works across various sectors in the construction industry, has signed a five-year renewal for its 27,500 square feet at Moinian Group’s office building at 535-545 Fifth Avenue, according to the landlord.

“The renewal of Gardiner & Theobald’s lease is a testament to the quality of spaces at our properties, and we are pleased the company has chosen to continue its operations at 535 & 545 Fifth Avenue,” Moinian’s Omar Sozkesen, who brokered the deal in-house for the landlord, said in a statement.

The asking rent was unclear, but a report from Newmark found office rents in Midtown averaged $79.53 per square foot during the fourth quarter of 2024.

Gardiner & Theobald’s renewal at the building, which stretches the length of Fifth Avenue from East 44th to East 45th streets, was “the right course of action to meet their strategic goals and keep their office within walking distance of Grand Central,” CBRE (CBRE)’s Evan Fiddle, who brokered the deal for the tenant, said in a statement.

“Gardiner & Theobald knows how to evaluate real estate alternatives as well as anyone, and we are fortunate to have assisted them with this transaction that satisfies their operational, financial and occupancy objectives,” Fiddle added.

Gardiner & Theobald first moved into the building in 2014 and has since expanded from its initial 22,452-square-foot lease, according to Moinian.

Spokespeople for Gardiner & Theobald and CBRE did not immediately respond to requests for further comment.

Other office tenants of the building two blocks north of the New York Public Library’s flagship building include medical clinic Manhattan Endoscopy and jewelry company Sandeep Diamond Corporation and its affiliate IDD USA.

The Midtown property is also home to retail tenants including French football club Paris Saint-Germain, the National Basketball Association Store and electronics retailer Best Buy.

Isabelle Durso can be reached at idurso@commercialobserver.com.