Real Estate Weekly
Image default
Deals & Dealmakers

Stawski signs Fifth Ave. lease

JLL has completed a new, direct transaction with HUBB NYC Properties LLC at 579 Fifth Avenue for building owner Stawski Partners.

The real estate investment firm signed for 11,655 s/f at the Class A, 150,000 s/f commercial office building.

Stawski Partners was represented by Paul Glickman, vice chairman; Diana Biasotti, senior vice president; Benjamin Bass, vice president; and Walter Rooney, associate, all with JLL.

The tenant was represented by Joseph Fabrizi, executive vice president, and Michael Affronti, senior associate, with CBRE Inc.

“HUBB NYC Properties was looking for modern office space with a large-enough floor plate to accommodate its entire staff on one floor but had a tight timeframe to complete the transaction and relocate,” said Glickman.

“The tenant was particularly attracted by 579 Fifth Avenue’s proximity to Grand Central and the wide range of amenities in the surrounding neighborhood. We worked closely with Stawski Partners to meet the tenant’s real estate needs as well as its timeline for relocation.”

HUBB NYC Properties inked a 10-year lease and will occupy the entire fourth floor at 579 Fifth Avenue, which is located at the intersection of Fifth Avenue and East 47th Street.

The real estate investment firm is relocating to the building from its previous offices at 130 East 59th Street.

HUBB NYC Properties will join Hollis Park Partners, which recently relocated to the 15th floor of 579 Fifth Avenue after signing a lease earlier this year.

Stawski Partners recently completed a capital improvement program at the 17-story 579 Fifth Avenue office building, which was originally designed by Emery Roth & Sons.

Kohn Pedersen Fox Associates was engaged to clarify 579 Fifth Avenue’s classic clean lines and refined proportions that now feature a new, white glass spandrel system, a two-story transparent glass storefront, an expanded all marble entrance lobby and upgraded vertical transportation.

Amenities at the newly redesigned building include a first-class concierge-attended lobby, elevator access via a card-key system with video file checking, private terrace setbacks on select upper floors, and advanced telecommunications and life safety systems.

Approximately 53,010 s/fof office space remains available at 579 Fifth Avenue, including the eighth floor and the ninth floor, with floor plates of 11,655 s/f each; the 10th floor, with a floor plate of 11,108 s/f; the 11th floor and 12th floor, with floor plates of 9,887 square feet each; and the 14th floor, with a floor plate of 8,705 s/f.

(Visited 1 times, 1 visits today)

Related posts

CBRE Announces $26 Million Sale/Partial Leaseback of 500 & 540 White Plains Road in Tarrytown, New York


Ariel Property Advisors Closes $12.8 Million Sale of Development Opportunity in Downtown Brooklyn


Columbia Pacific Advisors Provides $115 Million in Loans to Dynamic Star for Three New York City Developments