Brand New to Market – Plug & Play Sublease on 58th Street

March 17, 2017

Lance Leighton

Co-Founder –
Senior Managing Director, Savills
New York State Licensed Real Estate Salesperson

Call 212-326-8668

High-End Sublease in Midtown

Vornado Realty Trust is one of the world’s premier real estate owners, managers, and developers. With several million square feet in New York, there are several trophy buildings in its portfolio known for having extremely high-end tenant rosters. A few years ago Vornado and SL Green underwent a joint venture to take control of and renovate the then dilapidated 280 Park Avenue. Now the building is more than 95% leased creating yet another Vornado success story. About 10 blocks north, however, is a less spoken about underrated Vornado asset at 150 East 58th Street. Although half the building is occupied by architects and designers, there are a number of more traditional financial services and real estate tenants including Castle Harlan, Ripco Real Estate, and Ashkenazy Acquisition Corporation. One of the more boutique real estate firms Premier Equities, located on the 23rd floor, is now offering their space for sublease.

Measuring 1,756 rentable square feet, the premise is perfect for a family office, hedge fund, or small private equity firm. The unit is currently built with 3 glass fronted offices, one conference room, a small open area for about 4 employees, a wet pantry, and reception area (click here to see the floor plan). Built with extremely high-end finishes, this unit features fantastic natural light and views of the Upper East Side. Available for occupancy in May, this sublease term extends through June of 2022. This fully furnished plug and play sublease just hit the market this week and given the strong demand for short-term opportunities, this will not be on the market for long.

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