Manhattan, NY Cushman & Wakefield has arranged a 10-year, 6,780 s/f lease for Elvinger S.A.R.L PLLC at 600 Lexington Ave., a 300,000 s/f office building in the Plaza District. The law firm will occupy space on the 24th floor.
Cushman & Wakefield’s Harry Blair, Connor Daugstrup and Bianca DiMauro represented the landlord, Lex NY Equities LLC. David Hoffman and Sam Hoffman, also of Cushman & Wakefield, represented the tenant.
“We are thrilled to welcome Elvinger to the building,” said Blair. “Lex NY Equities is committed to adding and maintaining high-quality amenities at the property to provide tenants with a best-in-class office experience.”
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,