Newmark Knight Frank Named Exclusive Leasing Agent for Midtown Tower
The ownership of 575 Lexington Avenue today announced plans to build an exclusive amenity space for tenants of the Class-A office tower in Manhattan’s Plaza District. The brand new space, located on the 14th floor of the building, will feature both indoor and outdoor elements, including a large private terrace.
The announcement was made in collaboration with the building’s newly-appointed exclusive leasing agent, the Newmark Knight Frank team led by David Falk.
Designed by leading commercial space planning and interior design firm MKDA, 10,000 square feet of space will be reimagined into a lounge, café, and conference center for the exclusive use of tenants and their guests. Construction is expected to commence immediately.
The amenity space has been designed with a modern, industrial feel with exposed ceilings and columns. A stylish lounge will be created to allow tenants to conduct collaborative discussions in a relaxed setting. Billiards, ping pong tables, and bleacher seating will be installed in the recreation area giving tenants the opportunity to unwind. The amenity center will also include a suite of conference space with a breakout area available for tenants to use for internal and external meetings, events, and private conversations.
Today’s tenants are driven towards highly-amenitized spaces with progressive designs and an emphasis on access to the outdoors. In response to this, the 14th floor’s expansive terrace will be reimagined with landscaping and comfortable seating areas, providing an outdoor oasis where tenants can work or relax while taking in spectacular views of the city. In addition, 575 Lex currently has a half-dozen suites available, which include outdoor terraces.
“We are constantly looking for unique ways to improve and enhance the experience of our tenants,” said Peter S. Duncan, President and CEO of George Comfort & Sons. “The construction of this amenity space is a reflection of our efforts to provide our tenants with a best-in-class environment.”
575 Lex will be unveiling a new generation of prebuilt units. The spaces will feature a more creative feel, with exposed ceilings and columns, high-end finishes, and open areas to foster collaboration.
In addition to these planned improvements, 575 Lex’s lobby has recently undergone a full redesign to create a more modern and welcoming environment, with the addition of soft leather benches, a large digital screen and stylish wood panels accenting the walls and ceiling. A brand new entrance was also constructed and the elevators, HVAC and security systems were upgraded.
“We are excited about the improvements ownership has undertaken at 575 Lexington and know they will appeal to companies from a wide range of industries that seek a fully modernized, amenity-filled office environment in the heart of Midtown,” said Mr. Falk.
575 Lexington Avenue boasts flexible layouts, airy spaces filled with light, and an amenity program with on-site parking, health club, and childcare. Additionally, artisanal French bakery Maison Kayser recently opened one of its newest locations at 575 Lexington, offering tenants a high-quality option right at the building.
A joint venture comprised of Angelo Gordon & Co., Normandy Real Estate Partners, and George Comfort & Sons, acquired 575 Lexington Avenue in September 2015. Located in the heart of Manhattan’s vibrant Plaza District, the 35-story, 745,000 square foot office tower is surrounded by Midtown’s corporate headquarters, fine dining establishments, and vast retail options. Transportation is easily accessible, with Grand Central Terminal a few short blocks away and three subway lines just around the corner.
The Newmark Knight Frank team, which includes Mr. Falk, Ben Shapiro, Kyle Ciminelli, and Michael Shenfeld, is currently marketing over 90,000 square feet at the building, including availabilities on the tower and midrise floors and a contiguous block of 65,000 square feet.
About George Comfort & Sons
Founded in 1919, George Comfort & Sons specializes in acquisitions, asset and property management and brokerage, and offers full service leasing, construction and finance capabilities. It owns and operates a commercial real estate portfolio of approximately 10 million square feet nationwide. In addition to its New York headquarters, it has offices in Washington, DC, Purchase, NY and Stamford, Conn. For more information about George Comfort & Sons, Inc., please visit www.gcomfort.com
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy’s existing portfolio includes 13.2 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.
About Angelo, Gordon & Co.
Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies. Angelo, Gordon has over 420 employees, including more than 160 investment professionals, and is headquartered in New York, with associated offices elsewhere in the US, Europe and Asia. For more information, visit www.angelogordon.com.
About Newmark Knight Frank
Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
