By Daniel Geiger
Marks Paneth & Shron, the accounting firm, is arranging a roughly 100,000 s/f lease at 685 Third Avenue, several sources with direct knowledge of the firm’s search say.
The firm, which will be relocating from nearby 622 Third Avenue, is in talks to take three base floors in the property for rents in the $50s per s/f.
The deal will be the first in the roughly 600,000 s/f property since it was acquired by the pension fund TIAA-CREF a year ago from the pharmaceutical giant Pfizer for about $190 million. Pfizer, which had fully occupied the building, left after the sale and consolidated elsewhere in midtown, leaving the property fully vacant.
Marks Paneth is represented by Andrew Roos, a top executive at the real estate services firm Colliers International and the firm’s top dealmaker in 2010.
Roos, nor representatives from Marks Paneth could be reached by press time. A CB Richard Ellis team led by company executives Robert Alexander, Howard Fiddle, Paul Amrich, and Peter Turchin handles deals at 685 Third on behalf of TIAA-CREF. No one on the team could be reached.
For more on the deal, read tomorrow’s issue of Real Estate Weekly.
