Back in 1998, RFR Realty’s Aby Rosen and Michael Fuchs purchased Lever House (390 Park Avenue) establishing themselves as major players in New York City commercial real estate. The landmarked 261,619 square foot building is home to Hellman & Friedman, Third Point, Alcoa Inc. and many other well-known tenants predominantly in the financial services industry. Alcoa has been a major tenant in the building for over 15 years and ownership was happy to renew them back in 2014. However, Alcoa recently subleased one of their floors to Opus Bank and have put another on the market.
The entire 7th floor measures 10,726 rentable square feet and is easily one of the best deals in Manhattan. Alcoa is asking $74 per square foot to occupy a full floor in one of the most iconic buildings in the world. The space is built with two large corner offices, 12 open front offices, a board room, a large conference room, wet pantry, and open area for 5 workstations (click here to see a floor plan). All the furniture currently in place can be made available for an incoming subtenant. Available for occupancy in September 2017, the sublease term extends through June of 2020 leaving any subtenant with a flexible short-term low-risk opportunity. The unit has spectacular, unobstructed views overlooking Park Avenue.