Spirits Distributor Palm Bay International Signs 11K-SF Lease at 565 Fifth Avenue

A wine and spirits supplier will soon be popping the cork on a New York City office.

Palm Bay International signed an 11,419-square-foot lease on the 12th floor of Stawski Partners’ 565 Fifth Avenue, in what appears to be the West Palm Beach, Fla.-based vino purveyor’s first base in the city, according to the landlord broker CBRE (CBRE).

CBRE did not disclose the asking rent for the building between East 46th and East 47th streets or the length of the lease, but Midtown saw an average asking rent of $78.15 per square foot in the fourth quarter of 2024, according to a report from Cushman & Wakefield.

“This high-end prebuilt enables future tenants to envision their new offices — that Stawski builds to suit based on each tenant’s specific program,” CBRE’s Derrick Ades, who negotiated on behalf of the landlord with Jared London and Edward Goldman, said in a statement. “Businesses that desire to be proximate to Grand Central, in a boutique-sized building with stable ownership, will always be attracted to 565 Fifth Avenue.”

Palm Bay was founded in 1977 and distributes wine and spirits from around the world, including Italy’s Cavit wines and Ireland’s Drumshanbo whiskey, according to its website. It also has an office in Port Washington, N.Y.

Brett Harvey of Newmark (NMRK) handled the deal for Palm Bay, but the brokerage did not immediately respond to a request for comment.

Palm Bay wasn’t the only company signing on for space at 565 Fifth. Other recent deals in the building include Cresset Capital Management signing a lease for 9,280 square feet on the 27th floor, accounting firm State Tax Law with a 9,280-square-foot deal on the 15th floor, and Evolution Credit Partners taking 5,137 square feet, according to CBRE.

Mark Hallum can be reached at mhallum@commercialobserver.com.