Manhattan, NY ATCO Properties & Management completed three lease agreements totaling 12,961 s/f at 555 Fifth Ave. The 20-story, 257,000 s/f class A office building is located in Midtown.
Kiran Gems USA, Inc., one of the world’s largest manufacturers of natural diamonds and India’s premier diamantaire, has signed the largest of the three leases, spanning 6,360 s/f on the 18th floor. This move is a relocation of its New York headquarters from 50 West 47th St. and will take place in December. ATCO was represented by Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers and Charles Shamash of Norman Bobrow & Co Inc. represented Kiran.
Andrew Fabrikant & Sons, LLC, a leading diamond and estate jewelry buyer, signed a renewal for the 2,631 s/f it has occupied on the 19th floor since 2007. Kate Goodman, co-president of ATCO Properties handled the leasing negotiations with Fabrikant & Sons in-house.
Apollo Manufacturing, creators and manufacturers of gold and diamond jewelry, has chosen to almost double its space within the building. They have secured 3,970 s/f with a five-year lease relocating from the eighth to the sixth floor. Apollo Manufacturing originally moved into 555 Fifth Ave. in 2018. Goodman handled the leasing negotiations with Apollo in-house.
“555 Fifth Ave. is located within close proximity to New York’s Diamond District, making it an ideal location for Kiran Gems, Andrew Fabrikant & Sons and Apollo Manufacturing to be situated,” said Goodman.
“We are honored to be a part of these tenants’ journeys – whether longtime leaseholders or new to the building.”
Located on the southeast corner of East 46th Street, 555 Fifth Ave.offers a mix of commercial space just blocks from Grand Central Terminal and a walk to destinations including Bryant Park, the New York Public Library, Rockefeller Center and the heart of the Fifth Ave. shopping corridor.
Office tenants include Howard Sloan Search, Maritime Capital, LLC, Cornerstone Office Services, Inc., Telsey Holdings LLC and Global Excess Partners. Retail tenants at the property include Barnes & Noble, HOKA and JoJu Vietnamese Sandwich. Asking rents on all four transactions was $58-$63.
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