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Deals & Dealmakers

Vanbarton signs new lease at 31 Penn Plaza

Vanbarton Group has completed a seven-year lease, totaling 10,204 s/f with ExecOnline at 31 Penn Plaza, located at 132 West 31st Street between Sixth and Seventh avenues.

The education technology company will move into a portion of the 17th floor of the 18-story office building.

Vanbarton Group was represented by Mitchell Konsker and Matthew Astrachan, vice chairmen, and Adam Haber and Kyle Young, vice presidents, all with JLL.

ExecOnline was represented by Gabe Marans, senior managing director, and Justin Greenstone, associate, both with Savills Inc. The company is relocating from 860 Broadway.

“We continue to see strong leasing momentum at Vanbarton Group’s 31 Penn Plaza,” said Konsker. “In the past six months, JLL has completed 128,000 s/f in transactions with tenants involved in a wide variety of industry sectors.”

In six months, JLL has inked a total of 127,999 s/f in leases for office space at the building for Vanbarton Group, including Spaces taking 83,840 s/f, Capsule Corp. signing for 20,726 s/f, The Credit Junction expanding by 6,706 s/f and Revtrax leasing 6,523 square feet.

The property has just two floors still available, including the 12th floor, totaling 24,205 s/f, and the 15th floor, totaling 23,009 s/f.

Vanbarton Group recently completed a multimillion dollar renovation that included the creation of a building-within-a-building concept, façade restoration, lobby conference center addition, a penthouse reconfiguration and rooftop terrace, modernized security and infrastructure enhancements, upgraded common areas and additional retail and tenant amenities.

The property is located close to 10 subway lines as well as major transportation hubs including Pennsylvania Station, Grand Central Terminal and Port Authority.

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