Manhattan, NY Lee & Associates NYC arranged two office lease transactions totaling 4,353 s/f at 225 West 34th St., also known as 14 Penn Plaza, a full-service office building located across from Penn Station.
M To-Pros Development Inc. has signed a 3,093 s/f lease on the 21st floor of the building. The construction project management firm agreed to a seven-year-and-five-month lease and is expected to relocate from 501 Seventh Ave., with a planned move-in in November 2026.
Blue Mountain Capital has signed a 1,260 s/f lease on the 22nd floor of the property. The New York-based commercial real estate brokerage firm committed to a five-year-and-five-month lease and will relocate from 379 West Bdwy., with a projected move-in this month.
Woody King of Lee & Associates NYC represented both tenants. The landlord, Circle Realty, was represented by Jay Futersak. Although the terms of the lease were not disclosed, asking rents for the space were approximately $60 per s/f.
“After touring several office options around Penn Station, both tenants were drawn to 14 Penn Plaza because of the building’s incredible light and views, along with its unbeatable location directly across from Penn Station,” said Woody King, senior managing director at Lee & Associates NYC. “The building also has a strong presence of real estate firms, which made it particularly attractive for these tenants and created a natural fit within the existing tenant roster.”
Founded in 2015, M To-Pros Development Inc. is a construction project management firm established by Mildred Tolentino. The firm is a certified Minority- and Woman-Owned Business operating across multiple regions including New York, New Jersey, Texas and Massachusetts.
Blue Mountain Capital is a New York-based commercial real estate brokerage firm that provides owners with advisory services.
Located in the Penn Plaza district across from Penn Station and Madison Square Garden, 14 Penn Plaza offers regional transit access and Midtown views, making it a sought-after destination for tenants seeking connectivity and visibility in Midtown Manhattan.
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,