Silverstein Properties leases 40,550 s/f at 529 Fifth Ave.

October 11, 2022 - Brokerage

New York, NY Silverstein Properties, one of New York City’s leading real estate development and management companies, has completed two lease signings totaling 40,550 s/f at 529 Fifth Ave., a 20-story, Class A office building.

The leases include:

SDC Designs, a leading designer, manufacturer, and wholesaler of fine jewelry, signed a long-term renewal for its 12,423 s/f space on the 16th floor of the property and will expand by 17,382 s/f on the 10th floor to occupy a total of 29,805 s/f
ARS Investment, a privately held investment management company, leased 10,745 s/f on the fifth floor in a relocation from 500 Fifth Ave.

“We are delighted to continue our relationship with SDC Designs, and welcome ARS Investment to 529 Fifth Avenue,” said Joseph Artusa, senior vice president of leasing at Silverstein Properties. “This is one of the best located buildings in New York City, and the perfect place to grow a business, recruit and retain employees.”

“529 Fifth has a terrific amenity program, including the Willow – our Inspire lounge with outdoor space,” said Harlan Strader III, vice president of leasing at Silverstein Properties. “SDC and ARS will also have access to amenity spaces in all our North American office buildings, including cafes, cocktail bars, terraces, event spaces, yoga studios, wellness rooms, conferencing, mothering rooms and more.”

Joseph Artusa, Keith Cody and Harlan Strader III represented the landlord in these transactions, along with a team from JLL including vice chairmen Paul Glickman and Alex Chudnoff; executive managing director Christine Colley; senior vice president Diana Biasotti; vice president Kyle Young, and associate vice president Kristen Morgan. SDC was represented by Lance Korman at Newmark. ARS Investment was represented by Daniel Horowitz and Jeffrey Peck of Savills.

“As the workforce continues the return to work, convenient access is a major attraction,” said Paul Glickman, vice chairman of JLL. “Owned and operated by a best-in-class institutional landlord, 529 Fifth Avenue is well positioned to capitalize on renewed demand from high caliber tenants seeking space in highly amenitized properties in prime locations.”