The William Kaufman Organization (WKO) has announced that three tenants have signed long term leases totaling 19,320 s/f at its Midtown East tower, 767 Third Avenue.
Brafman & Associates, P.C., the law firm founded by prominent criminal defense attorney Benjamin Brafman, Esq., has signed a three-year, 7,450 s/f lease renewal comprising the entire 26th floor of the 40-story, 296,000 s/f building.
“I have been at 767 Third Avenue for more than 20 years,” Brafman explained. “The building is well maintained, the staff responsive, and the space affords incredible views. I am here to stay.”
In another deal, BRP Development Corporation, a New York-based real estate firm, has signed a five-year, 7,450 s/flease comprising the entire 33rd floor of the building.
Also signing is Project TriForce, a company that specializes in the creation of high-end replicas from video games, which has executed a seven-year, 4,420 s/f lease comprising a portion of the 35th floor of the property.
The company expects to relocate from 12 Desbrosses Street in Tribeca to its new offices in the second quarter of 2015.
According to Michael Lenchner, vice president and director of leasing at Sage Realty Corporation, the leasing and management division of WKO, the transactions come on the heels of the strong year of leasing activity at the property involving 13 deals totaling nearly 50,000 rentable square feet.
In addition, the building’s ownership has upgraded the building’s elevators, common corridors and rest rooms. The landlord has also recently completed refinishing the building’s oak façade and tables and benches in the plaza area, which is known for its iconic three-story high chess board.
“Following a flurry of activity, our building at 767 Third Avenue is now nearly 100 percent occupied,” he said, noting that only 4,085 rentable square feet is currently vacant for direct lease at the property.
“It speaks volumes about the strength of our portfolio, the resurgence of the Third Avenue corridor and the desirability of our amenities and services.”
Avi Ben-Ishay, managing director of Norman Bobrow & Co., Inc., represented Project TriForce in the long-term transaction, while Mr. Lenchner represented the building’s ownership in-house on all three deals. Asking rents at the property are in the high $60s per square foot to low $70s rentable per square foot.
Constructed in 1981, the tower at 767 Third Avenue is long-regarded as premier property in the Midtown East marketplace.
Built with a mix of oak and brick, the building features one-of-a-kind elements and public amenities, including an open plaza area with wooden benches and tables, a 1929-era Ford truck and a three-story high chess board.
