Miami-Based Flacks Group Inks 5K-SF Lease at Trump Tower
By Amanda Schiavo February 18, 2025 2:34 pm
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A Miami-based private equity firm is mimicking President Donald Trump in retaining its Florida base while maintaining a presence in New York.
Flacks Group signed a five-year lease to take over a 5,000-square-foot segment of the 21st floor of 725 Fifth Avenue, the 58-story, mixed-use skyscraper and sometimes home of Trump, according to a source with knowledge of the deal. Asking rent was in the upper $90s per square foot.
Matthew Leon and Jake Leon of Newmark (NMRK) represented Flacks in the lease while The Trump Organization handled it in-house via Myles Fennon. Newmark declined to comment while The Trump Organization did not respond to a request for comment.
Trump Tower will be Flacks’ first New York City office, the source said. The firm’s headquarters is located in Miami, and the business — which focuses on acquiring companies in the industrial and manufacturing sectors — also has outposts in Tokyo and Paris.
In addition to housing the corporate office of the Trump Organization, Trump Tower is home to The Industrial and Commercial Bank of China, Qatar Airways and artificial intelligence-driven healthcare revenue firm Medo Solutions.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
