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Deals & Dealmakers

Travel agency Travel Leaders Group takes 106,000 s/f at 1633 Broadway

Paramount Group has signed a 106,000 s/f lease with Travel Leaders Group Elite at 1633 Broadway.

Both of Travel Leaders Group companies, Tzell Travel Group and Protravel International, will occupy the 35th and 36th floors of the building, respectively.

Colliers International represented the tenant in the deal at the 48-story LEED Gold-certified Class A office building located in Midtown. Robert Tunis, vice chairman and Eric Ferriello, executive director worked on the transaction with Nick Chin in Financial Analytics and Amy Choy in Consulting.

Financial terms of the lease agreement, which lasts for 16.5 years, were not disclosed.

According to Tunis, “Headquarters are extremely important for companies, and we were delighted to work with Travel Leaders Group in finding their new home at Paramount’s 1633 Broadway, which is newly renovated and close to major transportation hubs and great amenities.”

“All of us at Travel Leaders Group’s Elite Division are beyond excited about this new office space. We take great pride in our brands, which are conveyed by our people and the space in which we work. This gorgeous new space will truly allow us to express our brand and who we are,” explained Gail Grimmett, President of Travel Leaders Group’s Elite Division.

The transaction follows several other major leases executed by Colliers in New York City over the past two weeks including the 261,000 square foot lease for Macmillan Publishers at 120 Broadway and the 98,600 square foot lease for Hospital for Special Surgery at 777 Third Avenue.

Doug Neye was the building rep for Paramount Group and Stephen Siegel, Paul Amrich, Patrice Meagher, Rob Hill, Howard Fiddle and Emily Jones at CBRE represented Paramount Group.

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