Incline Equity Partners Expands to 32K SF at 101 Park Avenue

Private equity firm Incline Equity Partners has expanded its presence at H.J. Kalikow’s Midtown tower at 101 Park Avenue, Commercial Observer has learned. 

The Pittsburgh-based middle-market investment firm signed a 14,198-square-foot expansion to occupy space on the building’s 47th floor, adding onto the 18,000 square feet the company already occupies on the 46th floor, tenant broker JLL (JLL) said. 

“101 Park Avenue addresses all of the key considerations of leading companies in the city today,” Kathryn Kalikow, principal at H.J. Kalikow, said in a statement. “We are confident that this property provides the ideal environment for Incline Equity Partners to continue their growth.”

Asking rent was not disclosed but previous Commercial Observer reporting noted the asking rent for the building is $105 per square foot. 

Incline was founded in 2011 and has been growing fast over the past few years, so needed office space to accommodate that growth. It previously had 5,500 square feet at 100 Park Avenue, relocated to 10,875 square feet at 505 Fifth Avenue in 2021, and then signed on to move to 18,000 square feet at 101 Park in 2023, as CO previously reported. 

JLL’s Alexander Chudnoff, Nick Francic, Harrison Potter and Kate Roush represented Incline in its most recent lease negotiations. 

“JLL has been privileged to work closely with Incline since they established their first New York office at 100 Park, subsequently doubling in size at 505 Fifth and then further expanding and relocating to 101 Park Avenue, where they are now growing again,” Chudnoff said in a statement. “Guiding them through this strategic real estate expansion has been an incredibly rewarding experience, and we are thrilled to now help them propel their business even further.”

The landlord was represented by Cushman & Wakefield (CWK)’s John Cefaly and Nicholas Dysenchuk. Cushman & Wakefield did not respond to requests for comment.

Built in 1982, 101 Park is a 49-story office tower at the corner of East 40th Street and Park Avenue in Midtown Manhattan. The building has been owned and operated by H.J. Kalikow from the start and is home to tenants including the American Kennel Club, health insurance provider Aetna and software company Quartile. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.