Environmental Consultant ERM Upping Office Space in 277 Park Avenue Move
By Nicholas Rizzi August 1, 2023 2:24 pm
reprints
An environmental consulting firm will more than double its office space in a move to 277 Park Avenue, Commercial Observer has learned.
ERM signed an eight-year lease for 12,500 square feet on the 20th floor of The Stahl Organization’s 50-story tower between East 47th and East 48th streets, according to a source with knowledge of the deal. Asking rent was in the mid-$90s per square foot.
The London-based firm will upsize its office space from the roughly 5,000 square feet it has leased nearby at 295 Madison Avenue since 2015.
ERM advises both industrial and non-industrial companies on environmental issues and has 134 offices across the world, including more than 50 in the United States, according to its website.
Savills’ Jim Wenk, Alex Redlus and Kirill Azovtsev represented the tenant in the deal while Mark Boisi and Bryan Boisi of Cushman & Wakefield (CWK) handled it for Stahl. Representatives for Savills and C&W declined to comment.
The 1.9 million-square-foot 277 Park recently underwent a $120 million renovation that added a new entrance, a fitness center and an eatery from “Iron Chef” alum David Burke, the New York Post reported. Other tenants in the property include M&T Bank, Intermediate Capital Group and National Australia Bank.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
