Recently Built Furnished Sublease in Plaza District
One of the most prevalent movements in New York City’s commercial market has been the insatiable demand for new construction and amenities. Hudson Yards, the World Trade Centers, 425 Park Avenue, among many other buildings have had extreme success leasing their space. The smarter Landlords have taken note of this and have begun innovating their assets to remain competitive. For example, Park Tower Group recently announced that it would be developing its basement space into a 7,000 square foot Equinox-like fitness center with concierge service. Keeping tenants happy in the long-term has proven to be worth it. The gym is expected to be completed by the fall of 2017. The building is home to Gannet Co., China Merchants Bank, Monarch Alternative Capital, as well as Vinci Partners. Vinci built their space out roughly 3 years ago to an extremely high standard and it shows very well. Their floor just hit the market for sublease.
Measuring 9,493 rentable square feet, this is a unique opportunity for a boutique financial services firm, hedge fund, or private equity shop to occupy an entire penthouse floor at Madison Avenue and 54th Street. Available for possession in Q4 2017, the sublease term extends through January 2024 giving an incoming subtenant plenty of time to enjoy the high-end existing infrastructure and beautiful views. The floor is currently built with double height ceilings throughout, an executive office, a boardroom, 3 meeting rooms, a library, eat-in pantry, 2 telephone rooms, shower, and open area for 37 employees (click here to see the floor plan). In addition, the furniture and phones can be made part of the deal.
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