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Deals & Dealmakers

WKO signs trio of leases at new-look Grand Central District tower

The William Kaufman Organization (WKO) announced that three companies have signed direct leases and renewals totaling approximately 20,000 s/f at its distinctive Grand Central district tower, 747 Third Avenue.

In the largest transaction, law firm Lazare Potter Giacovas & Moyle (LPG&M) has signed a 10-year, 9,310 s/f lease comprising the entire 16th floor of the building, which spans the whole east block between East 46th and 47th Street.

The firm, which specializes in commercial and securities litigation, expects to relocate from 875 Third Avenue in the fourth quarter of 2018.

Executive search firm JSB Partners renewed its 6,970 s/f space on a portion of the 15th floor for a five-year term. The company has been based in the building since 2004.

And private equity firm New 2nd Capital Advisors, leased the final pre-built unit on the building’s 21st floor.

The company’s new 3,202 s/f space features a communal lounge area, high-end finishes, mobile key access, high-speed fiber Internet connectivity, and furnished pantries with a Bevi water cooler. New 2nd expects to relocate from 205 East 42nd Street to the property later this year.

The new deals follow a recently completed repositioning at 747 Third. Renovations include a new lobby, visitor access system, concierge desk and digital art.

Michael Lenchner

Michael Lenchner, Director of Leasing of Sage Realty Corporation, the leasing division of WKO, along with a Jones Lang LaSalle leasing team of Frank Doyle, Cynthia Wasserberger, David Kleiner, Harlan Webster and Hayley Shoener represented ownership in-house in the LPG&M and New 2nd Capital Advisors transactions.

LPG&M was represented by Mark Weiss and Robert Eisenberg of Cushman & Wakefield. JSB Partners worked with Lenchner directly. New 2nd Capital Advisors was represented by David Dusek and Kip Orban and of Jones Lang LaSalle.

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