Fisher Brothers signs 35,000 s/f in <br>pre-built leases at 299 Park Ave.
Manhattan, NY Fisher Brothers, a fourth-generation real estate company that owns, manages and operates unique spaces across the country, has leased more than 35,000 s/f of pre-built office space at 299 Park Ave., across multiple transactions. Construction of five pre-built office spaces is now underway, with three spaces out of the five officially pre-leased.
One William Street Capital Management LP, a New York-based registered investment adviser, expanded its nearly 30,000 s/f lease by another 15,000 s/f; P10 Intermediate Holdings, LLC, a private equity investment firm, expanded its presence with a nearly 9,000 s/f expansion; and Tailwind Management LP signed a new lease for almost 14,000 s/f.
Marc Packman and Clark Briffel led negotiations for Fisher Brothers, which was also represented by David Falk, Peter Shimkin, Andy Sachs and Eric Cagner from Newmark. One William Street Capital Management LP was represented by Scott Gottlieb, Andrew Sussman, Ben Friedman and Lewis Gottlieb of CBRE. P10 Intermediate Holdings, LLC was represented by Silvio Petriello CBRE. Tailwind Management LP was represented by Greg Taubin of Savills.
“Investing in the tenant experience is a core principle at Fisher Brothers,” said Winston Fisher, partner at Fisher Brothers. “We have leased three of five pre-builts at 299 Park Ave. before starting construction, indicating a significant appetite for turnkey, premium space. With our recent investments in capital improvements and infrastructure upgrades, we have experienced strong leasing momentum at 299 Park Ave., yet another signal that leading tenants are continuing to prioritize well-located, trophy-quality office space.”
299 Park Ave.’s pre-built office tenants on the 3rd and 4th floors will have exclusive access to building amenities such as a gym and custom-built lounge. With tailored offerings crafted specifically for pre-built tenants, 299 Park Ave. is set to be only building in New York offering separate exclusive amenity spaces for pre-built workplaces.
Indicative of the firm’s commitment to providing a best-in-class office experience, Fisher Brothers invested $20 million in a large-scale capital improvement project at 299 Park Ave. in recent years that transformed the interior of the lobby space and exterior façade, and upgraded the building’s elevators. In partnership with the Rockwell Group, Fisher Brothers created a grand, bright and inviting interior with hotel-like design, quality and finishes. The renovation centers around a large-scale, dynamic digital art display. Created by LAB at Rockwell Group, the 60-foot-long LED art installation, “Living Canvas,” brings an ever-evolving cinematic art experience to Park Avenue. Earlier this year, Fisher Brothers completed a $500 million refinancing of 299 Park Avenue provided by Citi Group and JP Morgan.