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Deals & Dealmakers

LIHTC syndicator expands at 800 Third Avenue

JLL has completed a 5,718 s/f lease for CREA, LLC (CREA) for the partial 37th floor at 800 Third Ave. in Manhattan. The tenant signed a ten-year renewal and expansion lease at the 41-story Midtown office tower.

Alexander Chudnoff, vice chairman, and Simon Landmann, executive vice president, with JLL represented CREA in the transaction. Property owner 800 Third Avenue Associates, LLC was represented by senior vice president Larry Swiger and vice president Elaine Anazagasty alongside Joseph P. Day Realty Corporation senior vice president Richard Teichman.

CREA is a low-income housing tax credit syndicator, partnering with investors and developers in the creation of affordable housing communities across the country. Since 2001, CREA has raised and closed over $7.8 billion in LIHTC equity in 48 states, 1 U.S. territory and DC, representing more than 62,000 affordable housing units.

“CREA’s long-term expansion and extension highlights their commitment to Manhattan,” Landmann said. “The renovation of both their existing and expansion suites provide a significantly enhanced office environment with additional infrastructure upgrades.”

Located on 50th St. and Third Ave. in Midtown Manhattan, 800 Third Ave. stands within walking distance to Grand Central Station and the 4, 5, 6, F and E subway lines. The Emery Roth & Sons-designed building is located amid a diverse array of dining, shopping and hospitality destinations.

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