Developer Southern Land Company Takes 13K SF at 99 Park Avenue

A Nashville-based real estate development firm is relocating its New York City offices away from Rockefeller Center in favor of a Park Avenue address, Commercial Observer has learned.

Southern Land Company signed a 13,000-square-foot lease at Global Holdings Management’s 99 Park Avenue bringing the building to full occupancy, according to JLL.  The residential builder will be moving from 75 Rockefeller Center.

Asking rent and the length of the lease were not disclosed, but the average asking rent in Midtown was $81.62 per square foot in May, according to a report from CBRE.

“99 Park Avenue is a prime example of a Class A property with strong, well-capitalized ownership committed to attracting tenants through long-term investment,” JLL’s  Paul Glickman said in a statement. “It’s a premier asset in one of the city’s tightest submarkets, with extensive amenities and an ideal location.” 

Glickman negotiated on behalf of the landlord alongside Diana Biasotti, Harrison Potter and Kristen Morgan, as well as Craig Panzirer and Alex Radmin, who worked in-house on behalf of Global Holdings. 

Ben Bass and Seth Godnick of JLL represented Southern Land Company in the deal.

Other recent deals in the building include a 94,045-square-foot lease for Amalgamated Bank in April, financial services and strategic advisory firm Geller taking 45,290 square feet in March, and Metropolitan Commercial Bank expanding to 81,979 square feet in December 2024.

The building just got a $30 million facelift which included clearing the second floor to create a double-height lobby, a fitness center, duckpin bowling, a lounge, a golf simulator and hairstylists, according to JLL.

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