Electrical Contractor Raiden Electric Inks 7K-SF Deal at 45 West 45th Street

Raiden Electric, a privately owned local union electrical contractor, is moving its offices uptown to AFIAA’s 45 West 45th Street in Midtown.

The contractor inked a 10-year lease for 6,577 square feet, which span the entire 15th floor, according to tenant broker Avison Young. The 16-story Midtown office tower, originally constructed in 1923, sits on West 45th Street midway between Fifth Avenue and Avenue of the Americas.

Alan Zengo, principal at Raiden Electric, told Commercial Observer that the new lease at 45 West 45th Street reflects the company’s continued growth and long-term commitment to the city. 

“As our team and project portfolio expand, this space will support our operations and allow us to better serve our clients across the region,” Zengo said in a statement. “We expect to begin our transition in the coming months.”

Cushman & Wakefield’s Harley Dalton, Pierce Hance and Samantha Perlman represented landlord AFIAA in the negotiations, while Avison Young’s Patrick Steffens, Martin Cottingham and Michael Gottlieb worked on behalf of Raiden Electric. 

“This relocation marks a significant step forward for Raiden Electric as they expand into a space that better aligns with the scale and sophistication of their operations,” Steffens said. “Securing a full-floor presence in Midtown provides the company with the flexibility to grow, while enhancing connectivity to key clients and major transit hubs.”

The deal marks a relocation and expansion for Raiden Electric, according to Avison Young. The organization is currently located at 11 Broadway in the Financial District. 

Cushman & Wakefield’s Dalton told CO that the transaction is part of a successful lease up of 45 West 45th Street.

“After 12 transactions over 24 months, we have revitalized a previously quiet side‑street property, returning it to the forefront of tour consideration and achieving 95 percent occupancy,” Dalton said. “AFFIA has demonstrated creativity and flexibility in structuring deals and meeting tenant needs.”

Avison Young declined to disclose the asking rent for the Midtown space, but overall Midtown office asking rents averaged $76.96 per square foot in the first quarter of 2026, according to Cushman & Wakefield data. 

AFIAA purchased the 133,100-square-foot building at 45 West 45th Street in July 2019 for more than $125 million from Vanbarton Group. The building, located three blocks north of Bryant Park, hosts bar and restaurant Valerie and Mexican-themed cocktail bar Lolita on the ground floor. Other office tenants include health care marketing and communications firm 120/80 Group.

Cushman & Wakefield did not immediately respond to a request for comment. 

Emily Davis can be reached at edavis@commercialobserver.com.