Real Estate Investment Firm to Relocate its Headquarters to a Full Floor at Prestigious Midtown Tower
Equity Office announced today that it has signed a new 15-year 16,336-square-foot lease with Monday Properties at Park Avenue Tower, its 36-story luxury office tower in Manhattan’s Plaza District.
A leading owner/operator of high quality real estate in New York, Los Angeles, and Washington D.C., Monday Properties will occupy the entire 27th floor of the 620,000-square-foot tower, relocating its headquarters from 667 Madison Avenue in the second quarter of 2018.
Equity Office recently completed an ambitious capital improvement program at Park Avenue Tower. A major piece of the project was the invention of The Club, the building’s brand new 20,000-square-foot tenant amenity space on the concourse level of the building, which features a fitness facility with advanced wellness offerings, business lounge and conference center with state-of-the-art equipment, and food concept with a thoughtfully crafted menu. In addition, Equity Office reimagined the plaza, transformed the lobby with a stylish design, and upgraded the building’s mechanical systems.
“When embarking on this capital improvement program, we recognized the opportunity to create a luxury office tower equipped with exclusive amenities and a high-end suite of services unique to the New York City market,” said Zach Freeman of Equity Office. “We are pleased to welcome Monday Properties and know their employees will benefit from the elite environment we have curated at Park Avenue Tower.”
Monday Properties was represented in the transaction by Alex Chudnoff and Ben Bass of JLL. Equity Office was represented in-house by Mr. Freeman and Scott Silverstein, as well as by Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski, and Lance Korman of Newmark Knight Frank.
Park Avenue Tower is located between 55th and 56th Streets at the epicenter of the Plaza District. Built in 1986, the 36-story building boasts breathtaking views of the New York City skyline and Central Park. It is surrounded by many of the world’s finest financial institutions and cultural destinations, as well as world-class retail, superior hotels, and luxury residential buildings. Notable tenants include the National Bank of Canada, Oak Hill Capital Management, TowerBrook Capital Partners L.P., Eminence Capital, LLC, Stephens Inc., Avista Holdings, LLC, Cyrus Capital Partners, East Rock Capital Management, and ICM Partners.
About Equity Office
With an impressive portfolio encompassing approximately 50 million square feet of Class A office space, Equity Office is one of the largest and most reputable commercial real estate firms in the nation. An affiliate of Blackstone Group, the premier global investment and advisory firm, Equity Office focuses on meeting current trends and strategically addressing the changing needs of companies in superior locations throughout the country. Equity Office boasts five buildings and 2.5 million square feet of office space in NYC including Park Avenue Tower in Midtown Manhattan, a 620,000 square foot commercial building located at 65 East 55thStreet, as well as two newly acquired buildings in Greenwich, CT. For more information, visit equityoffice.com.
