ATCO Properties & Management announced today that it has completed five leasing transactions totaling 16,400 square feet at 373 Park Avenue South and sister building 381 Park Avenue South, two of its boutique class A properties situated in the heart of Manhattan’s Midtown South office district.
In the largest transaction, ATCO welcomed Aegis Venture Partners LLC into an 8,732 square-foot space on the second floor at 373 Park Avenue in mid-June following the firm’s relocation from 115 East 23rd Street. Aegis Ventures is an emerging startup studio that partners with entrepreneurs and industry leaders to originate, launch, and scale transformative companies. The two-year deal was handled for the tenant by Brandon Cooperstock of Savills. Natalie Tobar-Romero of Cushman & Wakefield represented the landlord.
With the Aegis signing, ATCO extends its leasing momentum at 373 Park Avenue. In April, ATCO secured a 10-year, 17,464 square-foot lease with Mount Sinai to open a cardiology office in the building.
At 381 Park Avenue South, ATCO closed four deals including a seven-year, 2,954 square-foot lease with architecture and design firm FGS Design LLC that will more than double its footprint at the tower. The company, whose headquarters previously occupied 1,249 square feet on the 9th floor of the building, is relocating to a larger, upgraded space on the same floor. Led by Architect Kiko Sanchez, FGS focuses on custom residential work including single-family luxury homes, renovations, additions, apartments, and condominiums as well as many mixed-use and residential developments. Robert Morris of FGS Design LLC handled the deal for the tenant. ATCO co-president Kate Hemmerdinger Goodman represented building ownership in-house.
Also at 381 Park Avenue South, ATCO signed a four-year lease renewal with New York-based conservation studio TWO STICKS inc., which will continue to occupy 1,521 square-feet on the 13th floor. Founded in 2005, the company specializes in modern and contemporary art and collaborates with and provides art conservation services on a broad range of materials for institutions, corporations, private collectors and major galleries. Francesca Esmay of TWO STICKS inc. handled the deal for the tenant and Kate Hemmerdinger Goodman represented building ownership in-house.
ATCO also completed a five-year lease renewal with Valerio Architects Inc., which is nearly doubling its current footprint on the eighth floor by relocating to a 1,990 square-foot space on the ninth floor at 381 Park Avenue South. Founded in 1994, Valerio Architects specializes in architecture, interior design, planning and brand design for high-end international clientele in the retail, restaurant and commercial office sectors. No brokers were involved in this deal.
Additionally, ATCO signed a new five year and four month, 1,203 square-foot lease with EVOS to open the food and beverage purveyor’s New York office at 381 Park Avenue South. EVOS moved into the 11th floor space in early June. Founded in 1994, EVOS serves up all-American favorites made with healthier ingredients and cooked by air baking without the grease. Todd Hershman of Newmark represented the tenant in this deal and Pierce Hance of Cushman & Wakefield represented building ownership.
“We are so pleased to welcome Aegis Venture Partners and EVOS to our Midtown South portfolio, and that FGS Design, Valerio Architects and TWO STICKS will continue to call our buildings home,” said Hemmerdinger Goodman. “381 Park Avenue South and 373 Park Avenue South provide it all – a prime location in the flourishing Flatiron District, premium workplace environments and exceptional management service.”
The sister buildings were built in the early 1900’s and reflect the architecture of classical buildings. 381 Park Avenue South boasts 17 floors totaling 228,000 square feet and 373 Park Avenue South rises 12 floors and totals 110,000 square feet. Both are located just steps from Madison Square Park and several subway lines, including the N, R, Q and 6 trains. The buildings offer sunny exposures and flexible floorplates.
Other tenants at the buildings include Simplebet, Launchsquad, Neuehouse, Advanced Focus, Lifetime Brands, Inc., ListenFirst Media, Secretariat Advisors LLC, Stephen B. Jacobs Group, Maria B. Campbell, Inc., Industrial Development Funding, Goldstein, Rikon, Rikon & Houghton, P.C., Fuze Inc., RW3 CultureWizard and Superfly Productions. Retail tenants include famed bakery and restaurant Sarabeth’s Kitchen, as well as Mexican restaurant Dos Caminos.
Asking rents were $64 per square foot for all four deals at 381 Park Avenue South and $53 per square foot at 373 Park Avenue South. For more information on ATCO, please contact 212-687-5154 or visit www.atco555.com.