Cushman & Wakefield announced today that 1156 Avenue of the Americas, located on the southeast corner of 45th Street, is now fully leased following the completion of three transactions in the Midtown Manhattan office building.
Lieber & Solow, Ltd. has renewed and expanded its lease for a total of 7,773 square feet on the 4th floor, China Telecom has signed a new lease to occupy 3,330 square feet on the 6th floor and Miniclip has signed a new lease to occupy 1,630 square feet on the 4th floor in the office building located in the Grand Central submarket.
The completion of these three transactions, which total 12,733 square feet, represents the lease-up of the APF Properties-managed office building, which is one of four Grand Central building's that are owned by subsidiaries of the real estate investment firm. As a comparison, the Sixth Avenue/Rockefeller Center corridor, which includes all Sixth Avenue properties north of 41st Street including Rockefeller Center, has a vacancy rate of 9.7%.
"In our business, happiness is a full building," states Kenneth Aschendorf, principal of APF Properties. "At 1156 Avenue of the Americas we are able to offer boutique space with a prestigious avenue address on corporate row. Our Grand Central district properties consistently outperform the market due to the constant investments that we make in our building's including new lobbies, elevators, common areas, mechanical systems and our Plaza quality pre-built program."
Cushman & Wakefield, led by David Rosenbloom, Joshua A. Goldman and Emily Weber, along with Jonathan Fales and Michael Tranfalia of the firm's Strategic Agency Services group are exclusive leasing agent on the building and represented APF Properties in the transactions. The C&W team also represented Liebert & Solow, Ltd. and Miniclip. Yuan Tang and Clyde Reetz of CBRE represented China Telecom.
"This is a big statement for ownership and shows their commitment to offering tenants the best class 'B' office space in the Grand Central district," said Rosenbloom, a Cushman & Wakefield executive director.
APF Properties LLC is a real estate investment firm that owns and manages commercial real estate in New York City, New Jersey and Philadelphia. Founded in 1995 by Kenneth Aschendorf and Berndt Perl, APF Properties own a 2.0 million-square-foot office portfolio. www.apfproperties.com