Five Lease Transactions Completed at 500 5th Ave is sign of strong demand - Cushman & Wakefield

FIVE LEASE TRANSCATIONS COMPLETED AT 500 FIFTH AVENUE IN SIGN OF CONTINUED STRONG DEMAND

Cushman & Wakefield announced today that it represented ownership of 500 Fifth Avenue, located across the street from Bryant Park, in five lease transactions totaling nearly 20,000 square feet.

Cushman & Wakefield’s Harry F. Blair and Sean Kearns represent 500 Fifth Avenue Inc. as exclusive leasing agent.

“500 Fifth Avenue offers tenants a prestigious Midtown Manhattan address combined with high-quality space with plenty of natural light and spectacular views of Bryant Park,” said Blair, a Cushman & Wakefield Senior Director. “These qualities, as well as the convenience of being located near Grand Central Station, Penn Station, The Port Authority and major subway lines, make the building attractive to tenants in the market.”

Recent transactions include:

  • The University of Oxford, which was represented by Paul Ippolito and Michael Morris of Newmark Grubb Knight Frank, renewed its lease for 10,346 square feet on the entire 32nd floor.
  • Argus Media, Inc., which was represented by Peter Berti and Helen McCarthy of Cushman & Wakefield, expanded in the building for a total of 4,538 square feet in suite 2410.
  • New Vision Communications Corp. signed a new lease for 2,050 square feet in suite 1740.
  • China XD Plastics Company Limited signed a new lease for 1,441 square feet in suite 960.
  • Forward Insight Commodities, LLC signed a sublease for 1,224 square feet in suite 2030.

Built in 1931, 500 Fifth Avenue is a 680,000-square-foot, Class-A, Art Deco skyscraper.