Mosler, Mirante Pick Up Leasing Agency for 681 Fifth Ave.

27 Jan, 2011, New York

Cushman & Wakefield announced today that Metropole Realty Advisors, the owner and developer of distinctive real estate properties throughout the United States, has named a team led by Bruce Mosler and Arthur Mirante as the exclusive office leasing agents for 681 Fifth Ave. - the avenue's premier boutique office building.

"Arthur and I sought this assignment because the building is truly unique, including 14 foot ceilings and virtually column-free space," said Mr. Mosler, Chairman of Global Brokerage. "Everything about this asset is world-class, from white-glove service including a doorman and hotel-concierge, to the location and design, to the finishes and features. The quality of the workmanship speaks for itself and is drawing the attention of the most discerning tenants. We have a very active marketing plan underway and we are expecting strong demand from our prospective tenants."

In addition to Mr. Mosler and Mr. Mirante, the Cushman & Wakefield agency team consists of Cynthia Foster, Mark Mandell, David Rosenbloom and Ethan Silverstein.

Since the completion of extensive renovations in 2010, 681 Fifth Ave. has completed two full-floor leases with leading global financial services companies. In the second half of 2010, Vision Capital Americas LLC, the U.S. arm of London-based investment company Vision Capital, leased the entire 14th floor. In May, Global Thematic Partners, an independent investment management boutique launched in 2010 by Deutsche Asset Management, signed a lease for the entire 12th floor. In addition, Metropole Realty Advisors occupies a full floor.

"We recognized an opportunity to bring the highest level of experience and the broadest relationships to the marketing of this unique and distinctive property," said Robert Siegel, CEO of Metropole Realty Advisors. "We think Bruce and Arthur and their team will get this new opportunity in front of the decision makers at global financial firms, and once seen, the product speaks for itself. We very much look forward to working with them."

Located between 53rd and 54th Street, 681 Fifth Avenue is the premier boutique office building on Fifth Avenue in the Plaza District. Notably, it was the original home of the Metropolitan Museum of Art and is located half a block from the Museum of Modern Art (MOMA). Designed by renowned architects McKim, Meade & White, the building offers unusually high 14-foot ceilings and expansive windows more than eight-feet high (and some 15 feet wide) with expansive views of Fifth Avenue and Central Park.

Metropole Realty Advisors recently completed an extensive $20 million interior and exterior building renovation, aiming to preserve and accentuate its historic pedigree and distinguishing features while integrating the most modern of design elements, including glass partitions, energy efficient windows, imported high-end finishes and fixtures. The building also offers concierge and white-glove service.

Originally built in 1912, the building has been completely upgraded with an entirely new infrastructure and building systems, including modernized with a new façade, new lobby and elevators, new operable windows, new bathrooms on each floor and new mechanicals, including a new heating and ventilation system, as well as electrical, telecommunications and security systems.

The architect for the base building renovation was SLCE Architects, which has designed exclusive and prominent properties including 15 Central Park West and the Bloomberg Tower. MKDA has designed the pre-built units that have been completed by Metropole.

The renovated office space, which totals 62,000 square feet, features oversized windows on three sides of the building with expansive natural light. The top three floors of the 18-story building have windows on all four sides with direct Central Park views. The signature feature of the property is a two-level penthouse, connected by a private staircase, which offers a 30-foot atrium and a large terrace overlooking Central Park and a 600 square foot garden. That space remains available exclusively for a single tenant, as do naming rights for the building.

Metropole Realty Advisors specializes in luxury retail real estate acquisitions, development, brokerage and construction in premier markets throughout the United States, including New York, Chicago, Los Angeles, Boston, Florida, Hawaii and San Francisco. Metropole's primary focus is obtaining the most sought-after retail locations for the tenants it represents or acquisition for its own account. In addition, the principals of Metropole Realty Advisors have worked as advisors to the world's leading retail tenants and developers for more than 30 years. Metropole's principal Mr. Siegel developed the LVMH Tower at 17-21 East 57th Street. Completed in 1998, the LVMH Tower was designed by Christian de Portzamparc and is currently tenanted by Christian Dior.

For more information and property photos visit www.681Fifth.com.

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