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Deals & Dealmakers

JLL completes 5th Ave. deal for Stawski Partners

JLL has completed a new transaction for building owner Stawski Partners at 579 Fifth Avenue with Eleven James Inc.
The annual membership club for luxury timepieces signed a full-floor lease for 11,108 s/f at the Class A, 150,000 s/f commercial office building.

The building owner was represented in the transaction by Paul N. Glickman, vice chairman; Benjamin Bass and Diana Biasotti, senior vice presidents; and Kristen Morgan and Walter Rooney, associates, all with JLL.

The tenant was represented by Ross Perlman, executive managing director, Lee Brodsky, senior managing director, and Ryan Gessin, associate director, with Newmark Knight Frank.

“We are very excited to welcome Eleven James to 579 Fifth Avenue,” said Glickman. “The tenant was particularly attracted by 579 Fifth Avenue’s boutique lobby and floor plate, proximity to Grand Central, and the wide range of amenities in the surrounding neighborhood. We worked closely with Eleven James to configure a layout that accommodated its operations onto a single floor.”

Eleven James inked a 10-year lease and will occupy the entire 10th floor at 579 Fifth Avenue, located between East 47th and East 48th streets. The tenant is relocating to the building from its previous offices at 12 East 44th Street.
In the past year, JLL has completed three full-floor transactions at 579 Fifth Avenue with hedge fund Hollis Park Partners LP; a confidential law firm; and real estate investment firm HUBB NYC Properties LLC.

Stawski Partners recently completed a capital improvement program at the 17-story 579 Fifth Avenue, which was originally designed by Emery Roth & Sons.

Kohn Pedersen Fox Associates was engaged to clarify 579 Fifth Avenue’s classic clean lines and refined proportions that now feature a new, white glass spandrel system, a two-story transparent glass storefront, an expanded all marble entrance lobby and upgraded vertical transportation.

Amenities include a concierge-attended lobby, elevator access via a card-key system with video file checking, private terrace setbacks on select upper floors and advanced telecommunications and life safety systems.

Only 33,197 s/fof office space remains available at 579 Fifth Avenue, including the eighth and the ninth floors, with floorplates of 11,655 s/f each; and 12th floor, a brand new pre-build measuring 9,887 s/f.

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