CBRE announced three new office leases totaling 48,000 square feet at 11 Bryant Park Plaza, underscoring the leasing momentum at the property as ownership executes a capital improvement program.
Spot & Tango committed to a 15,931-square-foot lease for the entire seventh floor. MediaRadar, formerly a subtenant, signed a direct lease for 15,931 square feet for the entire eighth floor and an undisclosed fintech company signed a new,16,183-square-foot lease for the entire 15th floor.
Since acquiring the 338,000-square-foot building last year, AM Property Holdings, Axonic Capital and Eyn Holdings have brought on Studios, which will spearhead a transformation of the building’s lobby, along with enhancements to the ground-floor façade and an elevator modernization program. Additionally, ownership has been working together with Spectorgroup to craft a modernized palette of finishes for the building.
CBRE’s Neil King, Paul Amrich, Conor Kenny and Matthew Dichter serve as the exclusive leasing representatives for the property and represented ownership in the lease negotiations.
“These significant improvements reflect ownership’s commitment to enhancing the tenant experience and ensuring 11 Bryant Park Plaza remains competitive in Midtown’s office market,” said King. “The leasing activity demonstrates strong demand for well-located buildings that combine character, convenience and modern amenities.”
Ownership is reimagining the existing lobby through a full gut renovation that will bring elevated finishes, a tenant-exclusive café, and an expansive lounge to the building. In addition, the exterior façade is being cosmetically enhanced, blending the building’s historic architecture with modern aesthetics. Finally, the elevators are undergoing a complete modernization program that will enhance both aesthetics and security with a redesign of the cabs and implementation of a destination dispatch system.
“11 Bryant Park Plaza represents the type of opportunity we find compelling: an exceptionally well-located asset where thoughtful investment can meaningfully enhance both the tenant experience and the long-term value of the property,” said Alex Fleming, Managing Director, Head of CRE Asset Management at Axonic Capital..
