Carmel Partners, a San Francisco-based private real estate investment firm that has operated as a sub-tenant since 2009 at Charles S. Cohen’s 805 Third Avene, at 50th Street, has signed a direct office lease for 6,2000 s/f comprising a portion of the building’s 20th floor.
“We’re delighted that this highly respected national real estate firm has chosen to continue to grow its business here in New York at 805 Third Avenue,” stated Cohen, President/CEO of Cohen Brothers Realty Corporation.
Marc Horowitz, Senior Vice President and National Director of Office Leasing for Cohen Brothers, brokered the long-term lease transaction of more than five years while Gordon Ogden of Byrnam Wood represented the tenant. Asking rent was $65 a square foot.
According to Horowitz, only a few small units, ranging from 2,500 to 6,719 s/d, are currently available at 805 Third Avenue, a 31-story, 600,000 square foot tower that occupies the entire easterly blockfront between 49th and 50th Street.
High profile tenants in the building include Meredith Corporation, one of the country’s leading media and marketing firms, and the Yankees Entertainment and Sports (YES) Network.
Founded in 1996, Carmel Partners manages more than $3.7 billion in real estate assets through five investment funds that service dozens of institutional investors. The company also has offices in LA, Seattle and Washington, D.C.