News: Brokerage

Cushman & Wakefield arrange three leases totaling 92,000 s/f at Two Park Ave.

New York, NY Cushman & Wakefield has arranged three new long-term leases totaling 92,000 s/f for Delta Galil Industries, LT Apparel Group and Essential Brands at Two Park Ave.

Cushman & Wakefield’s Tara Stacom, Mitch Arkin, Peter Trivelas and Mike Tranfalia represented the landlord in the transactions.

“Two Park Ave. has always enjoyed broad appeal, as the building has large floor plates and straddles midtown and midtown south with great access to all the main transportation hubs,” said Stacom. “Our new amenities have proven especially powerful in our marketing efforts over the past several months. Between the tenant lounge with large outdoor space and conference center with rooms of varying sizes, we are able to appeal to tenants looking for dynamic ‘third places’ to offer employees.”

Delta Galil Industries, a manufacturer and marketer of branded and private label apparel products for men, women and children, will occupy approximately 50,000 s/f on the entire 17th floor of the building. The tenant was represented by Lance Korman, Brian Waterman and David Berke of Newmark Knight Frank.

LT Apparel Group, a privately held global children’s apparel company whose portfolio of brands include Adidas kids, Carhartt kids and its own brand, French Toast, the leader in school wear for kids, will occupy 26,000 s/f on the entire 19th floor of the building. The tenant was represented by Amanda Bokman of JLL and David Menaged of Intrepid.

Essential Brands, a privately held apparel and soft home goods company, will occupy approximately 16,000 s/f on the 18th floor of the building. The tenant was represented by Michael Beyda of Benchmark.

A building-wide amenity center is currently underway at Two Park Ave. The amenity center will feature a penthouse lounge with a 4,000 s/f outdoor terrace, a coffee bar, wet bar, pool table, mother’s room, library area and multiple relaxed seating areas. In addition, a large conference center is being built on the ground floor that will include a coffee bar, open seating areas, catering kitchen, 28-person meeting room and a conference room that will seat more than 150 people.

Two Park Ave. is a 1-million s/f office building situated on Park Ave. between 32nd and 33rd St.'s. The 29-story property features 24-hour access, on-site property management and a parking garage.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,