RFR Realty LLC has signed its first new lease contract at the nine-story, 107,000 s/f 160 Fifth Ave.
The new lease totals 61,370 s/f. The Simons Foundation, a charitable organization dedicated to scientific research founded by mathematician and hedge fund manager James Simons, Ph.D., and managed by his wife, Dr. Marilyn Simons, signed a 15-year lease for the entire sixth, seventh, eighth, and ninth floors. "We are delighted to welcome our first new tenant to 160 Fifth Ave.," said Richard Farley, executive VP of leasing at RFR. "RFR invested in an extensive capital program to bring 160 Fifth Ave. to a modern class A standard while maintaining the architectural integrity of the property, a hallmark of RFR ownership. We are thrilled with the enthusiastic response to RFR's repositioning of 160 Fifth and are currently negotiating leases for the remainder of the building."
The multi-million dollar renovation and restoration program of the circa 1892 building, includes a new lobby, entrance, elevator cabs, restrooms, HVAC system, telecommunications and electrical infrastructure and operable energy-efficient oversized windows. As part of the program, the property's historic façade was restored.
Cushman & Wakefield's Mitchell Konsker, Alexander Chudnoff, Haley Klein and Justine Javier-Borja are co-exclusive leasing agents for 160 Fifth Ave., along with Farley and Oliver Katcher of RFR Realty. The Cushman & Wakefield team represented the owner in the lease negotiations. Peter Hennessy and Janet Woods of Jones Lang LaSalle represented The Simons Foundation.
RFR Realty oversees the leasing and management of the approximately nine million s/f of prime office and retail space in the RFR Holding Manhattan portfolio including the premier properties 375 Park Avenue and 390 Park Ave. (Lever House) and RFR's additional properties in Miami. It is an affiliate of the RFR's full-service platform that includes investment, construction, property and asset management, and leasing companies. Tags: