JLL has completed a 10,876 s/f 10-year lease for Incline Equity Partners for the entire 22nd floor at 505 Fifth Avenue in Manhattan. The tenant is relocating and expanding from 5,500 s/f of space on the partial 21st floor at 100 Park Avenue.
Incline Equity Partners was represented by Alexander Chudnoff, vice chairman, and Kip Orban, vice president, with JLL. Paul Glickman, vice chairman; Diana Biasotti, senior vice president; Kyle Young, vice president, and Kristen Morgan, assistant vice president, with JLL represented property owner Stawski Partners in the transaction.
Incline Equity Partners is a Pittsburgh-based private equity firm investing in manufacturing, distribution and business services companies. The company focuses on ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Constructed in 2006, the Kohn Pederson Fox-designed 505 Fifth Avenue features glass curtain walls with abundant light and expansive views, 13-foot slab-to-slab ceiling heights, tenant-tailored air systems and a floor configuration with limited columns to allow for creative open floor plans and design.
“505 Fifth Avenue’s contemporary architecture, superior infrastructure and unparalleled light and air create a powerful environment for employee attraction and retention,” Orban said. “This tower offers best-in-class space options with exceptional access to transportation.”
“Incline Equity Partners joins a roster of leading corporate tenants in this elegant, centrally located tower overlooking Bryant Park in the heart of Midtown,” Glickman said. “This transaction continues significant leasing momentum within the building and highlights the appeal of superior-quality space.”
The 26-story, mixed-use tower is ideally located in the heart of Midtown, with numerous restaurants, hotels and amenities including Bryant Park in the immediate area. 505 Fifth Avenue provides immediate access to mass transit through nearby Grand Central Terminal, Bryant Park, Times Square and Penn Station.