ATCO completes 5 leases totaling 16,400 s/f

New York, NY ATCO Properties & Management has completed five leasing transactions totaling 16,400 s/f at 373 Park Ave. S and sister building 381 Park Ave. S, two of its boutique class A properties.

In the largest transaction, ATCO welcomed Aegis Venture Partners LLC into an 8,732 s/f space on the second floor at 373 Park Ave. in mid-June following the firm’s relocation from 115 East 23rd St. Aegis ‌Ventures is an emerging startup studio that partners with entrepreneurs and industry leaders to originate‌, launch‌, and scale transformative companies‌.‌ The two-year deal was handled for the tenant by Brandon Cooperstock of Savills. Natalie Tobar-Romero of Cushman & Wakefield represented the landlord.

With the Aegis signing, ATCO extends its leasing momentum at 373 Park Ave. In April, ATCO secured a 10-year, 17,464 s/f lease with Mount Sinai to open a cardiology office in the building.

At 381 Park Ave. S, ATCO closed four deals including a seven-year, 2,954 s/f lease with architecture and design firm FGS Design LLC that will more than double its footprint at the tower. The company, whose headquarters previously occupied 1,249 s/f on the 9th floor of the building, is relocating to a larger, upgraded space on the same floor. Led by Architect Kiko Sanchez, FGS focuses on custom residential work including single-family luxury homes, renovations, additions, apartments, and condominiums as well as many mixed-use and residential developments. Robert Morris of FGS Design LLC handled the deal for the tenant. ATCO co-president Kate Hemmerdinger Goodman represented building ownership in-house.

Also at 381 Park Ave. S, ATCO signed a four-year lease renewal with New York-based conservation studio TWO STICKS inc., which will continue to occupy 1,521 s/f on the 13th floor. Founded in 2005, the company specializes in modern and contemporary art and collaborates with and provides art conservation services on a broad range of materials for institutions, corporations, private collectors and major galleries. Francesca Esmay of TWO STICKS inc. handled the deal for the tenant and Kate Hemmerdinger Goodman represented building ownership in-house.

ATCO also completed a five-year lease renewal with Valerio Architects Inc., which is nearly doubling its current footprint on the eighth floor by relocating to a 1,990 s/f space on the ninth floor at 381 Park Ave. S. Founded in 1994, Valerio Architects specializes in architecture, interior design, planning and brand design for high-end international clientele in the retail, restaurant and commercial office sectors. No brokers were involved in this deal.

Additionally, ATCO signed a new five year and four month, 1,203 s/f lease with EVOS to open the food and beverage purveyor’s New York office at 381 Park Ave. S. EVOS moved into the 11th floor space in early June. Founded in 1994, EVOS serves up all-American favorites made with healthier ingredients and cooked by air baking without the grease. Todd Hershman of Newmark represented the tenant in this deal and Pierce Hance of Cushman & Wakefield represented building ownership.

“We are so pleased to welcome Aegis Venture Partners and EVOS to our Midtown South portfolio, and that FGS Design, Valerio Architects and TWO STICKS will continue to call our buildings home,” said Hemmerdinger Goodman. “381 Park Ave. S and 373 Park Ave. S provide it all – a prime location in the flourishing Flatiron District, premium workplace environments and exceptional management service.”

The sister buildings were built in the early 1900’s and reflect the architecture of classical buildings. 381 Park Ave. S boasts 17 floors totaling 228,000 s/f and 373 Park Ave. S rises 12 floors and totals 110,000 s/f. Both are located just steps from Madison Square Park and several subway lines, including the N, R, Q and 6 trains. The buildings offer sunny exposures and flexible floorplates.

Other tenants at the buildings include Simplebet, Launchsquad, Neuehouse, Advanced Focus, Lifetime Brands, Inc., ListenFirst Media, Secretariat Advisors LLC, Stephen B. Jacobs Group, Maria B. Campbell, Inc., Industrial Development Funding, Goldstein, Rikon, Rikon & Houghton, P.C., Fuze Inc., RW3 CultureWizard and Superfly Productions. Retail tenants include famed bakery and restaurant Sarabeth’s Kitchen, as well as Mexican restaurant Dos Caminos.

Asking rents were $64 per s/f for all four deals at 381 Park Ave. S and $53 per s/f at 373 Park Ave. S.