By Daniel Geiger
APF Properties has pumped out a collection of deals at 25 West 45th Street.
The activity amounts to about 40,000 s/f of leasing in the 185,000 s/f building, the company said.
Several tenants have taken space in the property, including Cision US, a software company, Apple Mortgage Corporation, a financing brokerage, Afar Media LLC, FRP Service & Co., which manufactures plastic and chemical products, and Sandton Capital Partners, an investment fund, all took space in the building in recent months in deals ranging from 1,500 s/f to nearly 9,000 s/f.
“APF’s mission is operate the best B Class buildings in the Grand Central neighborhood,” said David Rosenbloom, an executive director at Cushman & Wakefield who leads a team that handles leasing for four office properties that APF owns in midtown. “These deals were driven by the fact that we’re offering Plaza District quality pre-built office installations in Grand Central, with glass walls and high end pantries. They’re magnificent, and they’re drawing takers.”
In March, APF Properties, in partnership with Prudential Real Estate Investors, acquired a nearby office building, 28 West 44th Street, from SL Green for $161 million. Rosenbloom said that APF was planning to institute the same type of pre-built program for the roughly 370,000 s/f property.
“We have about 30,000 s/f to lease at 28 West 44th and we’re going to take the same approach,” Rosenbloom said.
Asking rents in both buildings are in the $40s per s/f.