Equity Office announced that it has signed a new 15-year 16,336 s/f lease with Monday Properties at Park Avenue Tower, its 36-story luxury office tower in the 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 s/f tower, relocating its headquarters from 667 Madison Avenue in the second quarter of 2018.
Equity Office recently completed a capital improvement program at Park Avenue Tower. A major piece of the project was the invention of The Club, the building’s 20,000 s/f tenant amenity space on the concourse level, which features a fitness facility with advanced wellness offerings, business lounge and conference center with state-of-the-art equipment, and food concept.
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.
Other tenants include the National Bank of Canada, Oak Hill Capital and ICM Partners.