Luxury Office Space is Staging a Comeback – Another Two Deals Sign With Triple Digit Rents – 712 Fifth Avenue

June 12, 2013

Lance Leighton

Co-Founder – HedgeFundSpaces.com
Senior Managing Director, Savills Studley, Inc.
New York State Licensed Real Estate Salesperson

Call 212-326-8668

Two High-End Office Space Leases Get Signed at Paramount’s 712 Fifth Ave

The market for luxury office space is coming back strong.  With a limited supply of unique office space availabilities (including penthouses, offices with Central Park views, high-ceilings, etc.), money managers have been opening their wallets for the most coveted suites in New York City- especially within The Plaza District.  Two recent deals worthy of mention are RWN Management and CS Partners– both at 712 Fifth Avenue.

According to our sources, RWN Management, a boutique financial services company, signed a ten year lease to move from the eighteenth to the thirtieth floor of the building.  Additionally, CS Partners inked a deal to take the entire 46th Floor of the building.  Both floors measure between 9,000 and 10,000 square feet, have unobstructed panoramic views (including Central Park) and are ideally situated in the heart of the Plaza District.

712 Fifth Avenue has long been a favorite for small financial companies.  Due to its  ideal location, proximity to transportation and boutique floorplates, the asset has always attracted notable firms.  (Click here for the top Hedge Fund Office Space Buildings in New York City).  Rents for both deals were reportedly over $100 psf.

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