RFR announced 46,000 s/f of leasing at the Seagram Building, marking an acceleration of deal activity as the firm continues to develop the new Seagram Playground, its new amenity space in the tower.
Ehrenkranz Partners, Investindustrial, Brant Point Capital, and Ontario Teachers’ Pension Plan signed renewal and/or expansion deals, while Decheng Capital, Pantera Capital, and Skyway Equities completed new leases at Seagram.
Highlights of the deal activity include wealth management firm, Ehrenkranz Partners, a Seagram Building tenant for several decades, which leased 17,519 square feet, taking the entire 21st floor in a relocation move within the building. Investindustrial, located at the Seagram Building since 2010, took 9,578 on the 26th floor and to relocate and expand its premises by more than double.
Both companies noted that the $25 million, 34,000 s/f Seagram Playground complex, currently under development with an emphasis on fitness, wellness, social team building and collaboration, was a factor in the decision to renew at the Seagram Building.
“The Seagram Building has been a wonderful home, and we expect a bright future here,” said Joel Ehrenkranz, Founding Partner of Ehrenkranz Partners. “We appreciate that RFR continues to invest in a competitive and desirable building.”
“The ability to provide employees with amenities that amaze is exceedingly important to high end office users today,” said AJ Camhi, Executive Vice President and Director of Leasing at RFR. “Tenants are seeing the Seagram Playground offering as a compelling differentiator. Construction is well under way and we look forward to opening in mid-2022.”
SEAGRAM PLAYGROUND, a 34,000 s/f, multi-level complex, is completely unprecedented and unrivalled in New York, promoting
- Fitness, with a sports court for basketball, pickleball, floor hockey, volleyball and more; rock climbing wall; boxing training area; pilates fitness area; HIIT (high impact interval training) area; spin studio; strength training area; and cardiovascular exercise area.
- Wellness, with a stretching area, core strengthening area; and locker rooms with showers.
- Social collaboration, with a townhall featuring arena-styled seating to accommodate 240 people; boardroom with seating to accommodate 40 people; flex room with dynamic seating configurations for symposiums, training, meetings and more; multipurpose room for music, art, wine tastings, and more; lounge area with coffee and juice bar; and private phone booths.
AJ Camhi and Paul Milunec of RFR represented ownership in the lease transactions. Ehrenkranz Partners was represented by CBRE’s Mary Ann Tighe, Ben Friedland and Tamika Kramer. Investindustrial was represented by CBRE’s Justin Aronson and NYC Realty Advisors. Brain Weld of Cushman Wakefield was the tenant representative for Decheng Capital. Pantera Capital was represented by Jack Senske and Sheena Gohil of Colliers. Jonathan Anapol of Prime Manhattan Realty represented Skyway Equities.
