950 Third Ave. Draws Demand from New and Existing Tenants
4 May, 2011, New York
Cushman & Wakefield announced today the completion of five new leases at 950 Third Ave., the premier 32-story office tower at the corner of 57th Street in Midtown Manhattan.
The transactions are the latest since the building was acquired in 2010 by an entity controlled by Naomi and Andre Altholz, who have more than two decades of experience in the real estate development and management business and who previously held a minority interest in the building. The premier East Side office building is nearly 100 percent occupied.
Cushman & Wakefield's Jared Horowitz and Mikael Nahmias serve as exclusive leasing agents for the building and represented the owner in all five leasing transactions.
"We're very pleased to be able to accommodate the space needs of these growing organizations," said Mr. Horowitz, a Cushman & Wakefield executive director. "Among the factors which drew these firms to the property were the high quality of the asset, superb amenities, prestigious tenant roster, and ownership's firmly-established reputation for professional, attentive management."
Located at the southwest corner of 57th Street, the distinctive office building was the first mirrored-glass façade building in New York City and one of the premier office buildings on Third Avenue. Designed by the renowned architectural firm Kahn & Jacobs and completed in 1971, 950 Third Ave. boasts a highly diversified tenant roster of premier firms in sectors including communications, finance, banking and law, among others.
"950 Third Avenue has an outstanding, prominent location, modern design and seasoned, dedicated ownership. We're experiencing strong demand at the property," said Mr. Nahmias, a Cushman & Wakefield Senior Managing Director in the firm's Strategic Agency Services Group.
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