News: Brokerage

AmTrust secures 15,214 s/f lease at 360 Lexington Ave. with Citymeals on Wheels

Manhattan, NY AmTrustRE has finalized a lease with Citymeals on Wheels for 15,214 s/f of office space at 360 Lexington Ave., taking over the entire 9th floor of the property. AmTrustRE’s Samuel Salberg and JLL’s Mitchell Konsker, Barbara Winter, and Thomas Swartz represented the landlord in the transaction. Cushman & Wakefield’s Steven Soutendijk represented the tenant.

“The addition of Citymeals on Wheels at 360 Lexington is a testament to how well-located assets, offering a high-quality workplace experience, continue to attract high-caliber tenants within the most competitive submarkets,” said Jonathan Bennett, president of AmTrustRE. “At AmTrustRE, we remain focused on creating environments that not only meet the practical needs of our tenants but also foster collaboration and long-term success.”

360 Lexington Ave. is a 24-story, 268,000 s/f office building in the Midtown East neighborhood. Centrally located, 360 Lexington is near from Grand Central Terminal, offering access to New York City transit as well as commuter rail service to the greater New York area and Connecticut. Ownership is in the process of upgrading the building’s façade and designing an amenity lounge on the 8th floor that will feature lounge and collaboration spaces, a large board room, café and game room.

Citymeals on Wheels is a local non-profit organization providing meals and connection to older New Yorkers in need; it has delivered 72 million meals since its founding in 1981. As part of a relocation from a neighboring Midtown location, Citymeals on Wheels has signed a 15,000 s/f lease at 360 Lexington Ave. Upon move-in, the organization will occupy the entire 9th floor of the office building, bringing the property to more than 80% leased — a notable 20% increase in leasing volume compared to the time of AmTrustRE’s acquisition of the property.

“Citymeals on Wheels is excited to move our staff and administrative operations to 360 Lexington,’ said Beth Shapiro, Citymeals CEO. “Staying in Midtown was a priority for us, and this modern space will enable staff collaboration in all new ways. We look forward to enjoying a long-term relationship with 360 Lexington and AmTrustRE.”

The property has recently undergone significant upgrades, including a new lobby, modernized elevators, and refreshed common areas. Building on its commitment to elevating the tenant experience across its national office portfolio, AmTrustRE will introduce a high-end amenity center featuring conference facilities, lounge areas, a café, and game rooms. Ownership also plans to renovate the building’s exterior façade, with all enhancements scheduled to reach completion by early 2026.

MORE FROM Brokerage

SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.