NEW YORK-- H.J. Kalikow & Co., LLC along with Cushman & Wakefield announced today two major lease agreements with Morgan Stanley and Convene at 101 Park Avenue, located between 40thand 41stStreets.
Morgan Stanley, one of the leading investment bank and wealth management firms in the world, has signed a long-term lease renewal for 39,000 square feet in the 49-story building. The company is a longstanding tenant in the building and will continue to occupy space on the 23rdand 24thfloors.
Convene, a New York based operator of conference center facilities serving 64% of New York’s Fortune 500 companies, has signed a new lease at 101 Park Avenue. The company will occupy 20,000 square feet on the ground floor fronting Park Avenue and 41stStreet.
“101 Park Avenue has always been and continues to be a property where our tenants are able to provide their employees and clients the best environment possible for conducting business,” said Peter Kalikow, developer and owner of 101 Park Avenue. “I am very proud of the fact that 101 Park Avenue has such a prestigious roster of tenants who recognize value and stay for a long time. In fact, over 60% of the tenants at the property are original tenants. Other tenants, including Morgan Lewis, Booz & Co., Kelley Drye & Warren, and Curtis, Mallet-Prevost, have been at 101 Park from its very inception. That is a strong testament to the quality and services provided at 101 Park Avenue.”
A Cushman & Wakefield team led by John Cefaly, Executive Vice Chairman, Gus Field, Vice Chairman, Clark Finney, Senior Director, and David McBride, Senior Director, serve as exclusive leasing agent and represented ownership, Kalikow Properties, in the transactions. Michael Laginestra, Stuart Eisenkraft and Michael Geoghegan of CB Richard Ellis represented Morgan Stanley and Rocco Laginestra, Michael Whellen and Jared Freede of CB Richard Ellis represented Convene.
101 Park Avenue is a Class-A building located in Midtown Manhattan’s Grand Central neighborhood. The office building is conveniently located near Grand Central Terminal and major subway lines. More than 60 percent of tenants that leased space in the building since its inception are still doing business at the prestigious 101 Park Avenue address.
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.