Avison Young has been retained by a joint-venture partnership of Alchemy-ABR Investment Partners and a separate account managed by Clarion Partners to serve as exclusive leasing agent and property manager for 211 East 43rd Street.
The JV partnership recently acquired the leasehold for the 25-story building for $99 million.
The Avison Young team of A. Mitti Liebersohn, president and managing director of the firm’s New York City office, principals John Ryan III and Greg Kraut, senior director Anthony LoPresti and associate Justin Grabell will be responsible for leasing the building’s office space on behalf of ownership.
The team of principals Sean Sullivan and Antonio Biondi and property manager LeBaron Hazen will oversee property management for the building, which will benefit from a number of significant capital improvements.
Alchemy-ABR’s managing partner Brian Ray said, “We are very excited to announce our first acquisition under the new Alchemy-ABR Investment Partners platform in partnership with Clarion Partners.
“211 East 43rd Street represents an excellent opportunity to purchase a Midtown Manhattan office building at an attractive basis, just blocks from Grand Central Terminal and the United Nations, providing significant upside in leasing the remaining vacancy.ˮ
Ray said a major renovation will position the property to add to its tenant roster.
Currently, there are a number of suites of available space in the building ranging from 3,000 to 11,000 s/f.