Freeman and Silverstein of Equity Office lease 16,336 s/f to Monday Properties

December 19, 2017 - New York City
Alex Chudnoff, JLL

Manhattan, NY Equity Office has signed a new 15-year 16,336 s/f lease with Monday Properties at Park Ave. Tower, its 36-story office tower in the Plaza District.

Monday Properties will occupy the entire 27th floor of the 620,000 s/f tower, relocating its headquarters from 667 Madison Ave. in the second quarter of 2018. Monday Properties was represented by Alex Chudnoff and Ben Bass of JLL. Equity Office was represented in-house by Freeman and Scott Silverstein, as well as by Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski, and Lance Korman of Newmark Knight Frank.

Equity Office recently completed a capital improvement program at Park Ave. Tower. A major piece of the project was the invention of The Club, the building’s brand new 20,000 s/f tenant amenity space on the concourse level of the building, which features a fitness facility with advanced wellness offerings, business lounge and conference center with state-of-the-art equipment, and food concept with a thoughtfully crafted menu.  In addition, Equity Office reimagined the plaza, transformed the lobby with a stylish design, and upgraded the building’s mechanical systems.

“When embarking on this capital improvement program, we recognized the opportunity to create a luxury office tower equipped with exclusive amenities and a high-end suite of services unique to the New York City market,” said Zach Freeman of Equity Office.  “We are pleased to welcome Monday Properties and know their employees will benefit from the elite environment we have curated at Park Avenue Tower.”

Park Avenue Tower is located between 55th and 56th Streets at the epicenter of the Plaza District.  Built in 1986, the 36-story building boasts breathtaking views of the New York City skyline and Central Park.  It is surrounded by many of the world’s finest financial institutions and cultural destinations, as well as world-class retail, superior hotels, and luxury residential buildings.  Notable tenants include the National Bank of Canada, Oak Hill Capital Management, TowerBrook Capital Partners L.P., Eminence Capital, LLC, Stephens Inc., Avista Holdings, LLC, Cyrus Capital Partners, East Rock Capital Management, and ICM Partners.

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