Cushman & Wakefield arranges 71,239 s/f sublease for Phaidon International at 711 Third Avenue

New York, NY Cushman & Wakefield has arranged a long-term, 71,239 s/f sublease for Phaidon International at 711 Third Ave. The tenant, a global specialist recruitment agency, will be relocating from 622 Third Ave. and will occupy the full third floor and part of the second floor.

“Phaidon International has experienced hyper growth in the USA for several years and we have partnered with Cushman & Wakefield for each of our offices across the USA. We are delighted to have worked with them again in 2022 to secure our latest New York HQ at 711 Third Avenue,” said Harry Youtan, CEO, Phaidon. “This move is the next step of an exceptional eight years of growth in New York for Phaidon and this new home will allow us to hire and develop 200 additional staff in the coming years, taking our New York business to 500 people in total. As a National Best and Brightest Company to work for in New York and a Comparably.com Top 10 Best employer in NY, we are proud to be able to continue expanding our physical presence at 711 Third Avenue and to continue to contribute to the New York business community and help solve the number one business challenge: talent.”

Cushman & Wakefield’s David Mainthow represented the tenant in the transaction.   

“Phaidon is rapidly expanding and needed a best-in-class office space that reflected their strong culture and allowed for its continued growth. This space was delivered in move-in ready condition, resulting in little upfront capital investment and construction time, which offered a great solution for Phaidon’s thriving business,” said Mainthow. “The ability to continue to flourish coupled with the property’s strategic location next to Grand Central Station made 711 Third Ave. the perfect choice.”

711 Third Ave. is a 592,772 s/f office building. Recently renovated, the building features new elevator cabs, large windows and a three-level parking garage.

The property is surrounded by an array of retail, dining and entertainment options. Located a block from Grand Central Terminal, the building offers easy accessibility to the surrounding New York and New Jersey neighborhoods.