Atco Properties & Management has renewed leases with six office tenants totaling 29,688 square feet at 555 Fifth Ave., 630 Third Ave. and 381 Park Ave. South.
“Building strong relationships with our tenants and providing them with the highest quality offerings are of the utmost importance to us at Atco Properties and Management,” said Kate Hemmerdinger Goodman, co-president of Atco Properties & Management. “This plethora of renewals at buildings across our portfolio speaks to our ongoing success in doing so. We looked forward to their continued tenancy.”
At the 20-story, 257,000-square-foot 555 Fifth Ave., law firm Nicoletti Spinner Ryan Gulino Pinter LLP will remain on a portion of the eighth floor in 12,497 square feet The firm represents national and international insurance and reinsurance companies, as well as commercial and private clients on a wide range of insurance-related matters in New York and New Jersey. In the same building, accounting firm Frankel & Salamo LLC renewed for 3,425 square feet on the ninth floor. Hemmerdinger Goodman represented building ownership in-house on both leases. James Gale of CBRE represented Nicoletti Spinner Ryan Gulino Pinter LLP in the transaction. Asking rents were $58 to $63 per square foot.
Fragrance manufacturer and distributor Parlux Ltd., renewed its lease for 7,371 square feet on the sixth floor of 630 Third Ave. Law firm MRTL Realty LLC has also renewed its lease for 4,285 square feet on the 18th floor of the 23-story, 252,000-square-foot office tower. Hemmerdinger Goodman represented building ownership in-house on both leases. Howard Kesseler of Newmark & Company Real Estate Inc. represented Parlux. Asking rents were $56-$62 per square foot.
At 381 Park Avenue South, a 17-floor 228,000-square-foot building across from Madison Square Park, Industrial Development Funding LLC renewed its lease for 1,279 square feet on the 11th 11 floor. The private credit platform provides funding solutions to global industrials that accelerate the development and deployment of products and technologies key to energy transition and decarbonization efforts. In addition, talent representation firm CxC II Enterprises Inc, (successor-in-interest to FunnyFace, Inc.), renewed its lease for 811 square feet on the eighth floor. Hemmerdinger Goodman represented building ownership in-house on both leases. No tenant brokers were involved in either transaction. Asking rents were $62-$69 per square foot.
381 Park Ave. South was built in the early 1900s and offers sunny exposures and flexible floorplates. The property conveniently sits just steps from several subway lines, including the N, Q, R and 6 trains.
