Manhattan, NY Cushman & Wakefield has arranged a full-floor, 8,424 s/f lease for Capalino at 730 Third Ave. Capalino, New York’s leading urban strategy firm, will occupy the entire 24th floor.
Cushman & Wakefield’s David Hoffman, Robert Billingsley and Sam Hoffman represented the tenant in the transaction.
“After a comprehensive search, Capalino selected Nuveen Real Estate’s 730 Third Avenue for its prime location, beautiful renovations and best-in-class tenant amenities,” said David Hoffman. “The property’s accessible location near Grand Central, its reputable landlord and the advantages of occupying an entire floor make it an exceptional choice for their business needs.”
Capalino is a strategic consulting firm that helps companies navigate New York City and State through its government relations, business and real estate advisory services. The firm’s clients include UPS, Macy’s, Javits Convention Center and the Times Square Alliance and they have worked on major economic development projects like the Highline, Hudson Yards and the Flushing rezoning.
730 Third Ave. is a 665,110 s/f office building with am auditorium and a full-service conference center. The property features an outdoor rooftop deck accessible to all tenants within the building.
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,