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Deals & Dealmakers

Stephen B. Jacobs renews 14,000 s/f lease with ATCO

 ATCO Properties & Management announced that Manhattan-based architectural and interior design firm Stephen B. Jacobs Group, PC has completed a three-year, 14,000 s/f lease renewal at 381 Park Avenue South in the Flatiron District.

The firm, which specializes in historic preservation, adaptive reuse, residential projects, and hospitality design, is known for its work on high-profile projects such as the Hotel Gansevoort, 456 Greenwich Street, 70 Pine Street, and more. A tenant at 381 Park Avenue South since 2007, Stephen B. Jacobs will continue to occupy the entire second floor of the property.

“Over the years, Stephen B. Jacobs has benefitted from 381 Park Avenue South’s outstanding location, which is centrally located near their clients, projects and talented employee base,” said Kate Hemmerdinger-Goodman, Co-President of ATCO Properties & Management. “It is a positive indicator for our building, and we look forward to accommodating their office space needs for years to come.”

381 PARK AVENUE SOUTH

With the new transaction for Stephen B. Jacobs, it is the fifth lease renewal at 381 Park Avenue South this year. Other recent lease renewals include: social media analytics firm ListenFirst Media (10,439 square feet) on the 4th  floor; consulting firm Secretariat Advisors LLC (3,974 square feet) on the 8th floor; literary scouting company Maria B. Campbell, Inc. (2,957 square feet on the 13th floor; and intercultural training organization RW3 CultureWizard (2,303 square feet) on the 10th floor.

ATCO has also recently completed leases for new arrivals at 381 Park Avenue South such as investment advisor Industrial Development Funding (1,279 square feet) on the 11th floor, and Two Sticks, Inc. (1,521 square feet) on the 13th floor.

381 Park Avenue South is a 17-story, 210,000 square-foot boutique office property situated at East 27th Street. Other major tenants in the building include Goldstein, Rikon, Rikon & Houghton, P.C., Fuze Inc., and Superfly Productions. The building is also home to famed bakery and restaurant Sarabeth’s Kitchen.

Asking rent was $65 per square foot in the Stephen B. Jacobs transaction. The deal was completed directly by building ownership; there were no brokers involved.

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