Coworking Firm IWG Takes 22K SF at Cohen Brothers’ 475 Park Avenue South

Cohen Brothers Realty has signed lease deals for a coworking provider and four other tenants at one of its Midtown South office buildings.

In the largest deal, International Workplace Group (IWG), which owns flexible workspace brand Regus, signed a lease for 22,000 square feet on the entire 26th and 27th floors of Charles Cohen’s 475 Park Avenue South, according to the landlord.

Cohen Brothers did not immediately disclose the length of the lease. Asking rent in the building ranges from $75 to $85 per square foot.

“This wave of activity is a testament to the enduring appeal of our building following its extensive transformation,” Marc Horowitz, national director of leasing for Cohen Brothers, said in a statement. “IWG’s flexible workspace model is exactly the kind of forward-thinking amenity that today’s tenants are looking for, and together these transactions further strengthen the building’s roster and reinforce 475 Park Avenue South’s position as a premier destination in Midtown South.”

Horowitz and CBRE’s Adam Foster negotiated on behalf of the landlord, while T.J. Hochanadel and Will Propst of JLL represented IWG in the deal.

CBRE and JLL did not immediately respond to  requests for comment.

Meanwhile, tech and business advisory firm Millenium Alliance signed a slightly smaller deal, but is expanding within the building from 10,010 square feet to 20,020 square feet, according to the landlord. Millenium grew to 20,020 square feet following two subsequent expansions, with the most recent expansion being approximately 5,000 square feet. The new deal also included a lease extension for its existing space.

Horowitz represented the landlord, while CBRE’s Taylor Scheinman handled negotiations for the tenant.

CRC North, a firm that does property surveys, signed a 4,000-square-foot lease for a New York City office in the building, with Michael Hymowitz of LSL Advisors and Glenn Isaacson and Tony Builder of Bradford Allen representing the firm.

LSL and Bradford Allen did not immediately respond to requests for comment.

Venture capital firm Contour Venture Partners renewed its 3,300-square-foot lease for three and a half years at the building, using no outside brokers. Starbucks also renewed its 1,550-square-foot retail lease at the base of the property, with David Firestein of The Shopping Center Group representing the coffee giant.

Contour Venture Partners and TSCG did not immediately respond to a request for comment.

Horowitz repped the landlord in each transaction.

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