Vitech Corporation has renewed and extended its global headquarters lease at Meringoff Properties’ 401 Park Avenue South.
A worldwide provider of systems engineering and architectural software solutions, Vitech signed a 10-year, 42,200 s/f lease on two floors at the 12-story, 252,000 s/f property on Park Avenue South at the southeast corner of East 28th Street.
“We are thrilled to be able to retain a quality tenant like Vitech at 401 PAS,” said Stephen Meringoff, principal, who explained that Vitech renewed its lease with ownership and extended its tenancy on both floors on a direct basis for another decade.
According to Meringoff, who with his co-managing partner Leslie Himmel co-hosted a showcase event at 401 Park Avenue South on March 7th attended by more than three hundred brokers, “Midtown South has firmly established itself as a magnet for high-tech, creative companies, including ad agencies, digital enterprises and design firms–tenants whose preferences are to be situated in a trendy, burgeoning business environment, surrounded by popular dining, hotels and entertainment venues.”
Asking rents at 401 PAS range between $53 and $60 per square foot.
Dennis Someck of Lee & Associates represented Vitech in the transaction, while Mark S. Stein, senior vice president and Jason Vacker, vice president acted in-house on behalf of Meringoff Properties, the leasing agent for ownership.
Alan Katz, Esq., of Greenfield, Stein & Senior represented the tenant, and Larry Mergentine, Esq. of Rosenberg & Estis acted for the landlord.
