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Deals & Dealmakers

NY auction house renews 21,000 s/f lease

The New York office for Avison Young has arranged a 21,200-square-foot, two full-floor lease renewal at 104 East 25th Street for Swann Galleries, a New York city auction house specializing in rare and antiquarian books and works on paper.

Swann Galleries will continue to occupy the entire fifth and sixth floors of the 114,146-square-foot Gramercy Park office building for another two years.

An Avison Young team comprised of Nicky Heryet, Principal, along with Senior Directors Susan Kahaner and Jennifer Ogden represented Swann Galleries in the transaction. Erik Sznip, Senior Director with Avison Young Consulting, also participated in the negotiations. Michael Berger with Colliers International represented the building ownership, 25 Park LLC.

The Avison Young team conducted a thorough search for other space options with a clear understanding of the company’s strict operating requirements, including high slab heights, column clearance and large freight elevators for moving art pieces.

Swann Galleries, which has operated at 104 East 25th Street for more than 40 years, recently increased its sales by adding Virtual Auctions and plans to reopen live auctions as soon as possible.

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