The office building “hiding in plain sight” is already more than 40% leased after just nine months of marketing.
Four new deals were struck at 520 Fifth Ave., the 1,002-foot-tall luxury condo tower at East 43rd Street that also has 210,000 square feet of office space with 12-foot-high ceilings tucked into 25 boutique-size floors from the ninth to 34th.
The new leases were for Headlands Technology, Abrams Capital, MFA Financial Inc. and 1832 Partners, an asset-management firm focused on long-term investments.
Asking rents in the tower developed by Rabina range from the high $100s per square foot to over $200 psf.
A JLL team headed by Benjamin Bass, Paul Glickman and Frank Doyle represented Rabina in all the lease negotiations.
Josh Rabina, CEO of the development company, said the project’s early commercial success “speaks to the strong demand for the workplace experience we’ve created.”
