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Deals & Dealmakers

RFR’s AIM right at 757 3rd

RFR Realty announced that Alternative Investment Management (AIM) has signed a lease for 8,123 s/f at 757 Third Avenue.

AIM, a privately-held investment management firm that focuses on private equity and hedge funds, took space on the 12th floor of the building. Following an aggressive leasing campaign, RFR Realty has brought the 500,000 s/f tower to 95 percent occupancy.

757 Third Avenue
757 Third Avenue
“The capital improvement campaign we undertook at 757 Third Avenue, along with the building’s proximity to public transportation, continue to set it apart in the Grand Central submarket,” said RFR executive vice president and director of leasing Steve Morrows, who represented RFR in-house in the lease.

Capital improvements at the building commenced in 2012 and included the addition of a new lobby with rotating art program, elevator cab upgrades, and new common corridors and bathrooms.

RFR refinished the building façade and installed new retail store fronts, upgraded building infrastructure and rolled out a high-end prebuilt program to target boutique tenants.

Recent office leases that totaled over 167,000 s/f of space are testament to RFR’s campaign to reposition and lease up the tower following the departure of KPMG, which vacated approximately 180,000 s/f of the building in 2012.

Within the past 24 months, RFR has completed new leases and renewals for nearly 400,000 of building’s 500,000 square feet.

Laura Pomerantz of Laura Pomerantz Real Estate represented AIM in this lease transaction. Morrows represented RFR, along with a team from Jones Lang LaSalle led by Mitchell Konsker and Alexander Chudnoff.

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