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Deals & Dealmakers

Sage Realty Signs Nearly 28,000 Square Feet in New Leases and Renewals at 747 Third Avenue

 Sage Realty (Sage), the leasing and management division of the William Kaufman Organization (WKO) has signed leases, a mixture of new and renewals, totaling over 28,000 square feet at its Class-A commercial property, 747 Third Avenue between 46th and 47th Streets.

“Similar to what we’ve seen at our two other Third Avenue properties (767 and 777), tenants are excited to commit their future to the Grand Central Business District, one of the most desirable locations in Midtown,” said Michael Lenchner, Executive Vice President and Director of Leasing at Sage. “These leases emphasize what we’re hearing from so many tenants—that in-office work promotes collaboration, work efficiency and a positive company culture.”

New leasing activity at 747 Third Avenue includes:

·       CoAdvantage Corporation, a professional employer organization, signed a new lease. Leslie Keidan and Michael Eyler of Cresa represented the tenant on the deal.

·       DerivativePath, Inc, a cloud-based trading platform, signed a new lease. Gordon L. Hough and John Fitzsimons of Cushman & Wakefield represented the tenant on the deal.

Renewals include:

·       Hicuity Health, Inc, an acute care telemedicine provider, signed a renewal for their existing office space. Jim Kern of Kern Olsen Real Estate Services represented the tenant on the deal.

·       Krantz & Berman, a litigation boutique, renewed their lease for their current office space. Greg Cohen of Cresa represented the tenant on the deal.

·       Orr Group, a nonprofit management and consulting firm, signed a lease renewal and expansion on their existing office space. Brooks Hauf of Avison Young represented the tenant on the deal.

Built by WKO in 1972, this 39-story building was designed in the International Style, giving it a striking and modern look. The lobby features a cutting-edge visitor access system and a state-of-the-art concierge desk. The property offers 24-hour access seven days a week, through its entrance on Third Avenue, and 24-hour tenant-controlled air conditioning at no additional cost. In addition, Sage is currently modernizing the property’s elevator system in partnership with Schindler Group, a renowned Swiss elevator manufacturing company. This project entails a complete modernization of all mechanical equipment controls, along with new hoist way equipment, and a state-of-the-art destination dispatch system. Once completed, this will bring 747 Third Avenue’s elevators to the highest standards, faster call times, and an overall enhanced elevator experience.

For more information on 747 Third Avenue, visit the website https://747thirdave.com/ or contact Michael I. Lenchner, EVP & Director of Leasing for Sage at mlenchner@sagerealty.com or by calling (212) 758-0437. 

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