Specialized Private Equity Firm Leases Space for First Manhattan Office
2 Nov, 2005, New York, NY
Celtic Pharma takes entire seventh floor of 15,000 square feet at newly renovated Midtown building
Cushman & Wakefield, the world's largest privately held real estate services firm, announced today that Celtic Pharma Management LP, a private equity firm focused on the pharmaceutical industry, has leased 15,441 square feet at 1 E. 52nd Street for its first Manhattan office.
Cushman & Wakefield's Alexander Chudnoff and Jared Horowitz represented Celtic Pharma in its site selection and in lease negotiations with the landlord, Ferragamo. The landlord was represented by Cushman & Wakefield.
Bermuda-based Celtic Pharma will relocate from its temporary office space at 110 E. 59th St. to the entire seventh floor at 1 E. 52nd St.
"At 1 E. 52nd Celtic Pharma was able to establish full-floor identity in a high-profile Midtown location," said Mr. Chudnoff, a senior director of Cushman & Wakefield.
Located on Fifth Avenue, 1 E. 52nd St. is a boutique office tower above Ferragamo's New York flagship retail store. Completely redeveloped by Ferragamo in 2003, the building was reconstructed with larger floor plates and now offers modern, high-end office space.
Celtic Pharma will join several other financial services firms at 1 E. 52nd St., including W Capital Management, Coventry Real Estate Advisors and Ram Capital. In addition, the top floor of the building is occupied by the luxury Cornelia Day Resort.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.