Greystone Signs 8K-SF Deal at 499 Seventh Avenue
BCA Resources and Sak Brand Group also signed deals in the Midtown tower
By Mark Hallum February 3, 2025 12:16 pm
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Greystone is leasing some additional Midtown office space away from its main headquarters at 152 West 57th Street, Commercial Observer has learned.
The real estate lending firm signed a seven-year, 8,000-square-foot lease across the entire third floor of 499 Seventh Avenue, owned by Thomas Block’s Block Buildings, according to the landlord broker savitt partners. Asking rent was $52 per square foot.
Greystone took tours of the renovated building and came to an agreement with Block Buildings for a build-to-suit space, according to Savitt. Greystone will use the space for one of its affiliates.
Savitt’s Brian Neugeboren, Elliot Zelinger and Matthew Savitt negotiated on behalf of the landlord while Newmark (NMRK)’s Matthew Leon and Jake Leon handled the deal for Greystone. Newmark declined to comment.
Two other tenants signed deals in the office building at the corner of Seventh Avenue and West 37th Street. That includes fashion company BCA Resources doubling to 6,200 square feet, taking over the entire 19th and 21st floors of the building.
The fashion company had an existing six-year lease which it extended for another three years with the expansion, according to Savitt, which represented both sides of the deal.
Sustainable purse company The Sak Brand Group signed a seven-year deal to move to 3,200 square feet in the building. Dennis Someck and Justin Myers of Lee & Associates NYC represented the tenant.
It’s unclear where The Sak Brand Group is relocating from. Lee & Associates did not immediately respond to a request for comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
