Jones Lang LaSalle has completed four new, direct leases, totaling 12,508 s/f, for building owner William Kaufman Organization Ltd./The Travelers Cos. Inc. at 747 Third Avenue.
Long Point Capital Inc. leased 3,929 s/f of commercial office space, Reef Road Capital LLC took 3,835 s/f, Fourth Freedom Forum signed for 2,505 s/f and Murex Capital LLC leased 2,239 s/f at the Class A, 403,469 s/f commercial office building.
The building owner was represented in both transactions by Frank Doyle, vice chairman, along with Cynthia Wasserberger, managing director; Alexis Tener Petrus, vice president; and David Wassel, associate. The team worked closely with Michael Lenchner, vice president and director of leasing, with Sage Realty Corp.
Reef Road Capital was represented by Brian Goldman, executive managing director; and Matthew Lorberbaum, associate director, with Newmark Grubb Knight Frank. Long Point Capital was represented by Craig Lemle, senior managing director, with Studley Inc. Fourth Freedom Forum was represented by Paul Bostick, president, with Brentler Inc. Murex Capital was represented by Paul Walker, first vice president, with CBRE Inc.
“Hedge funds and financial services firms continue to find 747 Third Avenue an excellent place in which to conduct their business, fueling the building’s status as the premier office tower in the Grand Central District,” said Doyle. “The building owners just completed a thorough renovation of the building’s elevator cabs and recently launched a rebuilding program for the exterior plaza.”
Long Point Capital will occupy a portion of the 22nd floor at 747 Third Avenue, which is located between East 46th and East 47th streets. The private investment firm is relocating to 747 Third Avenue from its previous offices at 437 Madison Avenue.
Reef Road Capital will occupy a portion of the 19th floor at the building. The financial services firm is opening its first New York office at the building.
Fourth Freedom Forum will occupy a portion of the fourth floor at 747 Third Avenue. The global nonprofit organization is relocating to the building from its previous offices at 305 East 47th Street.
Murex Capital will occupy a portion of the 19th floor at the building. The financial services firm is relocating to 747 Third Avenue from its previous offices at 880 Third Avenue.
William Kaufman Organization/Travelers recently completed construction of a new sidewalk outside 747 Third Avenue. The project was a crucial step forward for the building owners’ ongoing plaza renovation, which is scheduled to be completed in June 2013.