According to Jamestown Properties, Rockwood Capital, MHP Real Estate Services and Crown Acquisitions, Athyrium Capital Management, LLC, an investment adviser in the healthcare and life sciences industry, has signed a 5-year lease for 7,803 s/f at 530 Fifth Ave. Athyrium Capital Management will occupy the entire 25th floor of the 26-story office and retail building located on the western block of Fifth Ave. between 44th and 45th Streets. The company will take possession of the pre-built space February 2014.
"By renovating 530 Fifth and offering full-floor office spaces, we've set the stage for companies like Athyrium Capital Management that value the powerful branding opportunities in one of the most sought-after locations available on Fifth Avenue," said Michael Phillips, COO of Jamestown. "We hope to continue attracting firms that want to make a bold statement and expand to the Midtown submarket."
The news follows the recent lease signing of the 26th floor to a top California-based entertainment company and the $4 million lobby renovation, which included the addition of a pronounced double height entrance, new limestone walls, iconic modernist furniture, new elevator cabs and state-of-the-art security systems, which create a quality entrance in keeping with the building's prime location.
Recent signings also include a five-year lease by Kaffe 1668, a popular downtown specialty coffee shop, for a "grab and go" coffee bar concept located in the newly renovated lobby - its first Midtown retail location and third overall. In addition to Kaffe 1668, Desigual, a women's, men's and children's clothing retailer, signed a temporary lease for 15,000 square feet on the ground floor and cellar. The Barcelona-based retailer moved into its fourth New York City location in August 2013 and unveiled bold signage that extends to the second level on the east and north facades of the building.
David Falk, Eric Cagner and Daniel Levine of Newark Grubb Knight Frank represented the landlord in the Athyrium Capital Management transaction. Dan Posy and Jason Roberts of Studley represented the tenant. Tags: