Apax Partners L.P., one of the world’s leading private equity investment groups, has extended their lease at 601 Lexington Avenue.
Savills Studley managed the 10-year renewal. Apax Partners has occupied the entire 53rd floor, a total of 31,400 s/f, since 2005.
Savills Studley executive vice president, New York Tri-State Region Stephen Berliner and executive vice president Daniel O. Horowitz led the transaction, along with executive managing director Jeffrey Peck, assistant director Peter Cipriano and associate director Gary Kerper.
Andrew Levin and Peter Hansen of Boston Properties represented the landlord in-house.
According to Horowitz, Apax Partners explored multiple alternative locations prior to recommitting.
“Ultimately, the firm decided they couldn’t recreate the prestige and overall quality of their existing space at a price point compelling enough to warrant a relocation. Boston Properties continually re-invests in this asset, making it a true trophy building.”
Similarly, Berliner noted the amenities of 601 Lexington Avenue as particularly attractive, “Apax Partners’ breathtaking views and class-A space coupled with a highly functional infrastructure were features that the investment group valued,” he said.