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Deals & Dealmakers

Publishing giant inks 3 Park expansion to 100,000 s/f

Publishing giant Houghton Mifflin Harcourt is enjoying a growth spurt at 3 Park Avenue, even though it hasn’t as yet moved into Charles S. Cohen’s distinctive 41-story office tower.

In its latest expansion move, the publishing house has taken an additional 10,500 s/f comprising a portion of the 23rd floor, bringing its total 3 Park Avenue headquarters footprint to over 100,000 square feet.

Houghton Mifflin Harcourt, which expects to relocate from 215 Park Avenue South to its new home in the first quarter of 2016, began its “space odyssey” last December when it signed a 12-year, 35,000 s/f lease for the entire 19th and a portion of the 18th floor.

Six months later, it added another 55,000 s/f by leasing the remainder of the 18th floor along with the entire 21st and 24th floors.

“We’re delighted to have been able to accommodate the growing space requirements of this distinguished publishing house,” stated Cohen, who has witnessed a strong leasing resurgence at his 600,000 s/f midtown skyscraper.

Recent tenant arrivals have included Mimeo.com, Return Path, Inc., Cintra Software and Services, and Assouline, Inc.

David Glassman and Joseph Cabrera of Colliers International represented Houghton Mifflin Harcourt in the latest long-term leasing transaction while Marc Horowitz, Senior Vice President and National 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 striking, class A skyscraper features a new lobby and elevator cabs designed by architecture firm, FXFowle. The property, is also home to an on-site New York Sports Club.

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