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Deals & Dealmakers

Publisher inks 35,000 s/f lease at Cohen’s 3 Park Avenue tower

Houghton Mifflin Harcourt, the publishing giant behind such national brands as CliffsNotes, Curious George and Betty Crocker, will soon relocate to Charles Cohen’s 41-story office tower at 3 Park Avenue.

The publishing house has signed a 12-year, 35,000 s/f lease comprising the entire 19th and a portion of the 18th floor of the building for its corporate headquarters.

Joseph Cabrera
Joseph Cabrera

The firm expects to relocate from 215 Park Avenue South in the third quarter of 2015.
According to Cohen, the Houghton Mifflin Harcourt transaction follows a “flurry” of leasing activity from creative and technology companies at the 600,000 s/f Midtown skyscraper.

Over the last year, new arrivals have included, Return Path, Inc., and Cintra Software and Services.

“Given our close proximity to Midtown South – the hottest submarket in town – we’re seeing lots of positive leasing volume at 3 Park Avenue, which is widely becoming a hub for TAMI tenants,” said Cohen, who noted that only 40,000 s/f of space remains available for lease at the building.

David Glassman and Joseph Cabrera of Colliers International represented the tenant in the long-term leasing transaction while Marc Horowitz, senior vice president and director of office leasing at Cohen Brothers Realty Corp., represented the building owner. Asking rent for the space was $63 per square foot.

Situated between East 33rd and East 34th Streets, the class A skyscraper features a new lobby and elevator cabs designed by architecture firm, FXFowle.

The property, close to Grand Central Station and several subway lines, is also home to an on-site New York Sports Club. Houghton Mifflin, headquartered in Boston, is one of the world’s longest-established publishing houses and largest providers of pre-K–12 education solutions. It has six international locations and 13 offices across the us

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